Tesla Stock Drops While Other Automakers' Stocks Rise Following Tesla Investor Day — What Happened?

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Tesla Stock Drops While Other Automakers’ Stocks Rise Following Tesla Investor Day

ByWhat went wrong? Tesla held a big Investor Day event, yet at the end of it, Tesla’s stock tanked and the stocks of competing automakers rose. I’m going to provide a few different perspectives here to try to make sense of it all.

And that does bring up one possible explanation. Almost all of the hype or interest I saw about Tesla Investor Day 2023 leading up to it concerned thateveryone seems to be on the edge of their seats waiting for. One can say that would be a “Tesla Model C” event, not a “Tesla Investor Day” event. That is indeed how Tesla has historically done it, but I think there was expectation because there was the idea that Tesla was being a bit stealth about it .

Not only was Tesla stock down 5.85% yesterday — stocks of some competitors were up a lot. XPeng stock [NYSE:XPEV] was up 5.3%, NIO stock [NYSE:NIO] was up 2.9%. Even Ford stock [NYSE:F] and GM stock [NYSE:GM] were up — 1.9% and 2.3%, respectively. BYD stock was also up . Surely, that’s not all a coincidence.

. And the company mentioned that the lower-cost models would be produced at various factories around the world, starting at the newly announced Mexico gigafactory. Shouldn’t Tesla get props for all of this?

 

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The market is irrational over the short term. Tesla didn’t tell fund managers how they would make some money in the next qrt. They explained how they’d bucket loads in 28 quarters. It went right over their heads 🤦‍♂️

Makes perfect sense really 🙄

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