Tesla CEO Elon Musk Says FSD Improvement Takes Longer Now, Stays Mum On Reports Of Robotaxi Event Being Delayed

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk on Friday hinted that it is now taking longer to find issues with the company's full self-driving (FSD) driver assistance software while staying mum on reports

Benzinga07:00 ET

"Too much, too fast!" UBS Group downgraded Tesla's rating to sell, citing the excessive valuation of non-automotive business.

Following the news of RoboTaxi's two-month delay in its release, Tesla was criticized by UBS Group on Friday, July 12th. Analysts, including Joseph Spak, downgraded Tesla's rating from 'Neutral' to 'Sell' in a report, citing concerns over the company's share price rising too quickly and resulting in an increasingly difficult-to-justify valuation. Currently trading at 86 times forward earnings with a lack of visibility, there is a risk that the company may not be able to achieve its growth targets due to delays. The institution believes that this is being driven by enthusiasm for artificial intelligence.

wallstreetcn11minutes ago

Tesla has released a new model, the Model 3 Long Range Rear-Wheel Drive, which qualifies for a $7,500 tax credit deduction.

In April of this year, Tesla lowered the prices of its Model Y, S, and X cars by $2,000 in the United States.

Zhitong Finance18minutes ago

Tesla Brings the Model 3 Long Range RWD to the US for $42,490

Yahoo Finance20minutes ago

Heard on the Street: The Best of Times May Have Been Worst of Times for Hedge Funds -- WSJ

By Spencer Jakab Its not the economy, stupid. On Thursday, the stock market got the best possible news, and a most unusual rally followed. Below the surface, it was the sort of performance seen

WSJ21minutes ago

Futures Mostly Up Ahead of Producer Price Data, Bank Earnings; Asia Churns, Europe Strong

US equity futures mostly edged higher before Friday's open as traders await last month's producer price index report and earnings from some major banks.The S&P 500 increased 0.1% and the Dow Jones

MT Newswires25minutes ago