Investing.com - Tesla Inc (NASDAQ:TSLA) saw a significant dip on Thursday, following the announcement that the electric vehicle giant, headed by Elon Musk, will be postponing the debut of its much-talked-about Robotaxi.
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A Bloomberg report indicates that the company plans to delay the unveiling of its autonomous vehicle, designed to transport passengers without a driver, until October. Musk had previously announced that the Robotaxi would be introduced on August 8.
Bloomberg suggests that this delay will give the project teams more time to construct additional vehicles.
This downturn concludes Tesla's 11-day rally, during which shares had seen a rise of over 44%. This surge was spurred by Musk's announcement and an exceeding second-quarter delivery report. However, the stock's gains are now reduced to approximately 35% over the past 12 days.
Yesterday, Goldman Sachs (NYSE:GS)' team of analysts retained a "neutral" rating on Tesla but raised its price target from $175.00 to $248.00. Presently, Tesla has 20 buy ratings, 19 hold ratings, and 9 sell ratings.
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