look news india
Self-driving taxis were introduced in Tesla's Robotaxis program. However, since no specific information was given about the 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. After this, the company's shares started falling from the beginning of August. 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.
Due to not giving detailed information about the taxi, there is doubt in the minds of people about the future products of the company and the scheduled time of its launch. Due to which people sold the shares of the company and the share price decreased.