Tesla (TSLA) inventory has taken a giant 10% tumble at this time because the market digests the Battery Day announcement and Tesla suffers a major community outage.

To be truthful, the market has taken a downturn through the second half of the day, however Tesla’s inventory was already taking a giant hit earlier than the broader market adopted.

Tesla closed at $380 per share — down greater than 10%.

The majority of the slip can seemingly be attributed to the market being disillusioned by Tesla’s Battery Day.

Tesla unveiled its technique to convey its personal battery cell to mass manufacturing with a 56% discount in price.

TSLA inventory worth additionally dropped on the information that Tesla’s network is experiencing some major issues:

Whereas Tesla’s app and web site had been down briefly and sporadically all through the day, the larger concern is that Tesla’s inside techniques are additionally down.

Sources informed Electrek that Tesla is having points with processing orders, deliveries, and repair since this morning.

Tesla nonetheless hasn’t commented on the problem and the rationale behind the system outage continues to be unknown.

It’s occurring at a important time for Tesla because the automaker is in the course of its end-of-the-quarter supply push.

Electrek’s Take

I can perceive why the market is disillusioned by Tesla’s Battery Day. There have been a couple of issues that had been disappointing.

Tesla launched a bunch of battery price discount stats primarily based on techniques that they admit not having totally deployed but and are depending on them ramping up manufacturing over the following three years.

When it comes to short-term and mid-term affect, the Battery Day didn’t have a lot to supply. To be truthful, Elon Musk form of warned us about {that a} day earlier than.

One of many issues that we thought is perhaps introduced and instantly accessible, or at the least accessible pretty quickly, was Mannequin S Plaid, and Tesla introduced that it gained’t be accessible till late 2021.

Subsequently, I feel it’s truthful to say that the timelines introduced on Battery Day had been disappointing.

As for the long run, I might argue that Tesla has exceeded expectations. There are some new applied sciences unveiled yesterday that would actually change the auto trade if they’re delivered.

However the market doesn’t just like the “if.”

If something, this tumble is sweet for those that consider that Tesla will certainly ship these improvements as a result of it appears just like the market shouldn’t be actually believing that Tesla goes to have the ability to execute, at the least not fully, on the bulletins.

As for the outage, it should begin to be a priority if Tesla hasn’t been in a position to repair the problem fully after 5 hours.

Contemplating Tesla was not too long ago the goal of a hacking try, it’s not unimaginable {that a} cyberattack is concerned, however we gained’t know till Tesla releases some particulars.

That’s the issue with Tesla not having press relations anymore, and already not being nice at communications to start with.

FTC: We use earnings incomes auto affiliate hyperlinks. More.


Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.