Tesla shares fell nearly 9% on Friday, October 11, 2024, the day after Elon Musk presented the company’s robotaxi vision at its “We, Robot” event. The selloff followed a presentation heavy on future-facing concepts but light, according to contemporaneous analysts, on the operating, regulatory and business details needed to judge how those plans would become a working service. That was a criticism of the event’s level of detail—not a settled verdict on Tesla’s long-term prospects.
What Tesla announced at “We, Robot”
Tesla held the presentation in Hollywood on Thursday, October 10, 2024. Reuters described a roughly 20-minute event in which Musk unveiled a silver, two-door Cybercab prototype and discussed plans for Model 3 and Model Y vehicles to operate without driver supervision in California and Texas by the following year. He said Cybercab production would begin by 2026 at a price below $30,000. The presentation also included a 20-person robovan and Tesla’s Optimus humanoid robots. Reuters reported the announcements on October 11, 2024.
These were plans and forecasts announced at the event, not evidence that the vehicles, service or production targets had been delivered. The distinction mattered to investors assessing not just what Tesla might build, but when and how it could operate at scale.
How far Tesla shares fell
Tesla closed at $217.80 on October 11, 2024, nearly 9% lower, Reuters reported. Axios said shares opened down more than 9% that morning; the opening decline and closing decline describe different points in the same trading session, not competing estimates of the close. Axios’s October 11 account covered the initial reaction.
Outdated Drivers Are Slowing You Down
One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchWindows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstall#1 Best Overall
- Made of zinc alloy with ABS plastic parts
- 5.9 inch x 2.2 inch x 1.8 inch(size)
- The two sides of doors could be opened,front and back covercould be opened too
- You can pull back the car,then it can move forwards with Lights and Sound
- Very suitable as children 4 years and up toys for birthday,Christmas gift, new year. Also it can be a gift for your boyfriend
Uber and Lyft shares closed about 11% and 10% higher, respectively, that day, Reuters reported. Analysts interpreted the robotaxi presentation’s lack of detail as easing competitive concerns for ride-hailing companies. Those same-day moves and that interpretation do not establish that Tesla’s event alone caused either company’s share-price change.
Why investors wanted more detail
The central criticism was a gap between a striking product reveal and a practical plan for turning autonomy into a dependable business. Reuters and Axios reported that investors and analysts were looking for specifics on several connected questions:
Rank #2
- Made of zinc alloy with ABS plastic parts
- 5.9 inch x 2.2 inch x 1.8 inch(size)
- The two sides of doors could be opened,front and back covercould be opened too
- You can pull back the car,then it can move forwards with Lights and Sound
- Very suitable as children 4 years and up toys for birthday,Christmas gift, new year. Also it can be a gift for your boyfriend
- Production and timing: What would it take to ramp Cybercab production, and how should investors assess the announced milestones?
- Regulatory approval: What approvals would be needed to operate without a driver, and how would those affect the proposed timeline?
- The customer-facing service: How would the robotaxi app and network work, and how would Tesla build a fleet that customers could use? Reuters noted that Musk did not discuss the planned ride-hailing app; Axios said expected detail about the software network and a customer-powered fleet was absent.
- Economics: How would Tesla monetize autonomy and robotics, and what would the costs and operating model look like?
Ramesh Poola, co-chief investment officer at Creative Planning, put the demand for specifics this way: “obviously, we were looking for more details on what exactly his future plans are going to be and how he’s going to monetize this new AI and robotics.” The quote reflects his contemporaneous assessment, not a consensus forecast. Reuters quoted Poola in its October 11 report.
Technical and operating questions behind the vision
Some of the sharpest contemporaneous criticism concerned what would have to work between a prototype reveal and a commercial robotaxi operation. Matthew Wansley, a professor at New York’s Cardozo School of Law, questioned whether Tesla had shown that a vision-only approach to automation was viable. Reuters also quoted Wells Fargo analyst Colin Langan describing the demonstrations as taking place on a controlled movie set. Those were their assessments of the event, not findings that by themselves resolve the technology’s capabilities.
The Tool Desk
Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Rank #3
- Brand: Matchbox
- Batteries required: False
- Batteries included: False
Crijn Bouman, CEO of Rocsys, raised a more operational set of issues: charging vehicles, cleaning them and keeping them available. Those tasks are part of running a fleet, not merely designing a vehicle or demonstrating autonomy. Reuters’s roundup captured Wansley’s broader criticism: “What Tesla showed tonight was a lot of sci-fi smoke and mirrors. What they haven’t shown yet is software that has the capabilities of an automated driving system … Musk has yet to prove that a vision-only approach for automation is viable. And he didn’t address that issue tonight.” This is Wansley’s quoted opinion, not an independently established technical conclusion. Reuters’s expert-reaction roundup was published October 11, 2024.
The reaction was not uniformly pessimistic
The immediate share-price decline did not mean all investors rejected Tesla’s longer-term autonomy ambitions. Tesla shareholder Ross Gerber said, “His vision is lovely, but somebody has to actualize it,” while emphasizing the company’s near-term need to sell electric vehicles. ARK Investment Management’s Tasha Keeney was encouraged by the proposed unsupervised-driving timeline: “If they can do that, I don’t see why they wouldn’t launch a robotaxi service soon after,” she said. Her optimism was conditional on Tesla achieving the stated capability.
Rank #4
- Made of zinc alloy with ABS plastic parts
- 5.9 inch x 2.2 inch x 1.8 inch(size)
- The two sides of doors could be opened,front and back covercould be opened too
- You can pull back the car,then it can move forwards with Lights and Sound
- Very suitable as children 4 years and up toys for birthday,Christmas gift, new year. Also it can be a gift for your boyfriend
Reuters also quoted Ramesh Poola as seeing longer-term monetization potential while expecting regulatory hurdles. Axios reported that some Tesla bulls initially liked the presentation and that Bank of America analysts reiterated Buy ratings. These were views and ratings reported in October 2024, not current investment recommendations. Taken together, the coverage shows a disagreement about execution risk and future potential—not proof that either the selloff or the bullish case was the definitive long-term judgment.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the selloff does—and does not—show
The measurable event was a nearly 9% closing decline the trading day after Tesla’s presentation. Contemporary explanations focused on missing execution detail: production ramp, approvals, service design, fleet operations and monetization. Those concerns help explain why a dramatic reveal could disappoint some investors without establishing whether Tesla’s longer-term autonomy plans would succeed or fail.
Best Value
![Matchbox Tesla Model Y, 70 Years 89/100 [White]](https://m.media-amazon.com/images/I/51XQmx0TiDL._SL160_.jpg)
- Toy Vehicle Form: Car
- Theme: Car
This is a historical account of the October 2024 event and next-day market response. It does not establish Tesla’s robotaxi deployment status in October 2026 or whether the timelines announced in 2024 were later met.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
