i know Tesla uber-bulls are used to complaining about Wall Street being too short-sighted, because that's a valid complaint most of the time, but the reaction to this presentation isn't that.
The technical meat of this presentation was all stuff we'd seen before in previous presentations. The only new content was Elon going "wouldn't it be cool if we powered everything by electricity?" and then making some WAGs about how many robots could exist someday.
As a long-term investor, I found nothing new of substance here. Trust me, I could not care less about next quarter's delivery numbers. And I don't need to see a powerpoint slide showing a rendering of another concept car that is 3-5 years from production. But this presentation only gave us two things -- recycled (albeit impressive and important) content, and vague speculative fluff.
I agree with Elon that using electricity instead of fossil fuels for most of our energy needs would be wildly more efficient and is probably feasible. But that assertion is not a plan.
This event was a giant bait-and-switch for instituional investors. "Oh, you think we're going to give you roadmaps, projections, and details you can put in your spreadsheet in a nifty 1.5 hours? Guess what dummy, we're LOCKING YOU in this room for 4+ hours and FORCING you to listen to all this stuff we've said in Battery Day, AI Day, etc. that you've ignored/passed off to your analyst underlinings and you're going to see in depth why we're the absolute best!" lol
Then again this event was announced on the eve of a bad earnings report when the stock price was low $100s. Imagine if the share price was $85 during the time of this event, everyone would riot. They'd probably give some of those juicy details. But with the shareprice at $200 they could be a little more lax with throwing out the red meat.
Gave you both disagrees because I found a LOT of the info presented to be quite new and as I thought I follow Tesla like a hawk, I'm wondering how you knew all this already and I didn't?? Maybe I wasn't paying as much attention as I thought...?
But I have to say I'm astonished, although not exactly surprised, with the AH/PM stock reaction, it's always the same with Tesla events - Battery Day was similar, stock took an even bigger dive, then after a few days the analyst upgrades started to come in and it recovered after a few weeks
What did people expect? Was never going to be a car reveal. For me, what they showed was way beyond my expectations and reinforced my conviction as an investor. Yes, Tesla "days" are geeky, nerdy, too many details, awkward, etc., but they just laid-out out a realistic vision of cutting manufacturing costs by a further 50%, reducing manufacturing footprint by 70%, showed the gen 3 principles, reaffirmed 20 million vehicles per year target - not by 2030, but "as soon as possible", they'll be refining their own lithium by the end of the year, showed a good-looking pre-prod CyberTruck and confirmed it will be in production this year
Folks are complaining that it didn't pump the stock, well tbh, given what I saw last night, I don't understand why it's not up 25% today, I guess it's the speculators who are complaining, not the investors. In any case, the purpose was not to inflate the stock price in the short term, although as this plays-out, the long term gains will be spectacular
I see "analysts" complaining that Tesla didn't "give enough details". Sorry, what? What do they need on top of what was presented? Can't these people extrapolate?
There's a good reason a lot of the folks posting here became wealthy on TSLA, the detractors call it "luck", I call it "having a brain"