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Tesla: Tesla's Robotaxis program introduces self-driving taxis. However, due to no specific information being given about this taxi, investors and Wall Street analysts were not particularly impressed and the company's shares fell massively.
Elon Musk has seen a big decline in his net worth due to the fall in Tesla shares. Musk holds 13 percent shares of Tesla. On Friday, Tesla shares fell 9 percent from $238.77 to $217.80.
According to the Bloomberg Billionaires Index, Musk's net worth declined by $15 billion after the US stock market closed on Friday. Musk is the richest person in the world with a net worth of $240 billion.
Notably, Tesla shares reached an all-time high in July. Then from the beginning of August the company's shares started falling. However, Tesla's stock prices began rising again in September, causing Musk's net worth to exceed that of McDonald's and Pepsi.
According to sources, investors were disappointed that Tesla's robotaxis program did not provide more information about the taxis. Analysts also criticized the company's decision not to provide detailed information about the taxi. The lack of detailed information about the taxi is raising doubts over the company's future products and scheduled launch timing. Due to which people sold the shares of the company and the share price decreased.