Tesla Stock Drops After Underwhelming Cybercab Reveal. Here's Why Investors Came Away Underwhelmed

Tesla shares dropped more than 5% in premarket trading following the company's robotaxi event, where CEO Elon Musk revealed the Cybercab, a self-driving concept car. The silver two-seater, lacking steering wheels or pedals, is expected to be produced before 2027, priced under $30,000. Analysts expressed disappointment over the lack of near-term updates on Full Self-Driving technology and Tesla's manufacturing plans. Barclays and Piper Sandler analysts noted a lack of details in Musk's presentation, suggesting the unveiling did not meet investors’ expectations.