Elon Musk Promised "Over a Million Robotaxis" by 2020. None Materialized, and a Dedicated Robotaxi Fleet Isn't Expected Until at Least 2027. Here's What That Track Record Means for Tesla's Valuation.
Tesla investors are putting a lot of stake in Musk's bold predictions.
Overview
"If you fast forward a year, maybe a year and three months, but next year for sure, we'll have over a million robotaxis on the road."
You'd be forgiven if you thought that quote from Tesla (NASDAQ: TSLA) CEO Elon Musk came during the company's Cybercab event earlier this month or a recent investor event. In fact, Musk shared that prediction at Tesla's Autonomy Day back in April 2019.
Details
Musk has a track record of making overly optimistic predictions about his companies. That means relying on his comments during earnings calls can lead to extreme overvaluations for the business.
Source
Originally published at www.fool.com.
Related Articles
- Prediction: Rocket Lab's Revenue Tops $1.5 Billion in 2027 Without Counting Iridium
- Artificial Intelligence (AI) May Have a New Bear Thesis: Human Extinction
- Satya Nadella's Microsoft Disclosed Azure Topped $100 Billion in Annual Sales for the First Time -- but MSFT Has Trailed the Market All Year. Is the Stock Still a Buy?
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.