“Making macroeconomic prognostications is a recipe for disaster,” Elon Musk mentioned on Thursday night, earlier than noting that the US financial system is prone to see a “relatively mild recession for something like 18 months.”
Indeed, the feedback proved inauspicious for Tesla (NASDAQ:TSLA) inventory on Friday as shares tumbled 6.63%.
Additionally, Musk up to date the timeline for the rollout of its Cybertruck, which was initially slated to enter manufacturing in 2021. As is typical for Tesla’s manufacturing timelines, that projection seems to have been fairly over optimistic. As was the preliminary pricing, in keeping with Musk.
“Cybertruck pricing, it was unveiled in 2019, and the reservation was $99. A lot has changed since then, so the specs and the pricing will be different,” he mentioned, “I hate to give sort of a little bit of bad news, but I think there’s no way to sort of have anticipated quite the inflation that we’ve seen and the various issues.”
The truck is now slated to reach in 2023.
Musk additionally up to date buyers on the approval of a 3-for-1 inventory cut up, manufacturing facility buildouts, progress on autonomous driving, and automobile manufacturing charges. Read extra on the highlights from the “Cyber Roundup.”
There can also be another clarification that the transfer got here as Twitter (TWTR) bit again on the Tesla frontman over his faux account allegations.
Twitter (TWTR), in contrast, rose sharply on Friday.
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