Tesla investors and enthusiasts are left perplexed after the EV maker’s stock price began to decline following the launch of the Robotaxi service.
Currently, only Tesla investors and a select group of individuals are permitted to participate in the Robotaxi program and hail an autonomous ride.
And, looking at the reactions, Tesla influencers have unanimously declared the Robotaxi launch a major success and a pivotal moment in Tesla’s history.
However, despite all the excitement, Tesla’s stock price has been falling since Tuesday after the initial enthusiasm for the Robotaxi launch began to wane.
Tesla officially launched the Robotaxi service over the weekend. The last trading day before the launch was Friday, June 20, when Tesla closed at $322 per share.
Once the Robotaxi launch occurred, on the first trading day, Monday, June 23, Tesla stock soared to $354 per share.
This is a 10% increase, and considering Tesla’s massive $1 trillion market cap, it represented a $100 billion growth in the company’s value in a single day.
Tesla stock slightly increased the next day, reaching a midday high of $356 per share.
Given the rise in Tesla’s share price, many Tesla investors who had closely followed the Robotaxi launch began to share their regret about not having bought more Tesla shares.
Some Tesla investors even felt upset with their partners because their significant others refused to let them take out a second mortgage on their homes to buy more Tesla shares.
Those not looking in the rear mirror even shared their consideration about using more risky financial instruments, including call options, to capitalize on what they perceived would be a quick increase in Tesla share prices.
However, by Tuesday afternoon, Tesla’s stock price began to decline. Giving up the small gains it made earlier in the day, Tesla shares closed at $338, down 4.5%.
These losses further accelerated on Wednesday, when Tesla’s stock price went down even further to $322 per share.
This led many Tesla fans to question publicly what was going on.
A Tesla investor who goes by the username “Drink Water Investments” on X says…
“Can someone let me know why we are down 4.5%? Just like yesterday, no news at all. The general market is still green.”
Another Tesla investor who goes by the username “Deep Value Bagger” on X writes…
“$TSLA was up 2% pre-market, then fell down to negative 3.45%. What the hell…”
A third Tesla investor, Cole Grinde, writes…
“Why is $TSLA falling this morning?”
Overall, the sentiment among Tesla investors is one of confusion and despair. Luckily, on Thursday, Tesla stock stopped the downward trend, and Tesla shares closed the trading day up 0.5% to $325 per share.
Please let me know your thoughts in the comments below.
