Tesla Shares Rebound After Investment Day

Investors in Tesla, Inc. (NASDAQ: TSLA) were cautiously optimistic following the company’s much-anticipated “Investment Day” event. The electric vehicle maker saw its shares dip 5.8% after hours to $191 following the presentation, but investors appear to be encouraged by the company’s long-term vision and plans for growth. Tesla CEO Elon Musk opened the event with a passionate call to action, urging investors to join him in his mission of creating a sustainable future powered by clean energy. He outlined an ambitious plan for Tesla to deliver 20 million vehicles per year by 2030, up from 1.8 million this year, and discussed production and engineering advancements that will help make this goal achievable. However, he did not address how demand would be generated for such a large number of vehicles or how they would reach their goal of producing a $25K car within three years. The company also provided updates on their current product lineup, including their flagship Model 3 sedan and Model Y crossover SUV as well as their Semi truck and Cybertruck pickup truck models. They also announced plans for an autonomous ride-hailing service called Robotaxis which is expected to launch in 2021. Overall, investors seem encouraged by Tesla’s long-term vision despite some unanswered questions about how they plan to achieve it. With strong sales numbers across all models so far this year and further potential for growth in 2021, many analysts remain bullish on the stock despite its recent dip after hours trading yesterday evening following Investment Day presentations from Musk and other executives at the company headquarters in Palo Alto California.