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Tesla stock down over 18% this year despite flying Roadster showcase
Tesla shares have fallen more than 18% since the start of the year even after the company showed a new Roadster that can move through the air; investors are focused on its third-quarter results.
The showcase has not lifted the stock. Tesla shares have fallen more than 18% since the start of the year on high valuation concerns and broader market conditions, after dropping 3.57% in September and about 7.3% last week. Analysts point to uncertainty over when its investments in robotaxis, the Optimus humanoid robot and AI infrastructure will produce sustainable revenue.
Tesla last week unveiled a new version of its two-seat Roadster that can move through the air, using 10 nozzles and ultra-high-pressure air tanks. At the event, the driverless car climbed a steep ramp, hung upside down, flipped in the air and jumped over a row of parked Tesla vehicles, reaching about 60 mph in under a second.
Chief Executive Elon Musk said the car is expected to go into production in 2028, adding that it may not be street-legal in every market.
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