Tesla Bot
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Underwhelming event to unveil the robots and the market opportunities last night, which shaved billions off the stock today.
In separate notes to clients, Morgan Stanley analyst Adam Jonas shares he was “overall disappointed with the substance and detail of the presentation,” Bernstein analyst Toni Sacconaghi called the demonstration “underwhelming and stunningly absent on detail;” Barclays analyst Dan Levy noted “there were no updates indicating near-term opportunities,”Deutsche Bank analyst Edison Yu said he was “underwhelmed by the lack of details;” Laffer Tengler Investments CEO Nancy Tengler wrote it was “too general, too vague” for the market’s liking; and Wedbush analyst Dan Ives, a long-time Tesla bull, concurred “ideally Musk and Tesla should have spent more time on details.”