Tesla shares plunge by 6 percent after launch of electric pickup truck
Tesla stock took a slide Friday morning after its much-anticipated electric pickup truck met with widespread derision from analysts and casual observers who described Musk's latest product as "like, really weird."
Shares in the California-based startup were down by more than 6 percent most of Friday.
Tesla has long counted on the “cool” factor to make it the brand to beat in the emerging electric vehicle market, but if it hoped to heat things up with the Thursday night debut of its new Cybertruck, it turns out that the battery-pickup is getting an ice cold reception.
It was standing room only at the Hawthorne Airport hangar where Tesla unveiled the Cybertruck yesterday, capping off a year of tweets and teases by CEO Elon Musk that the upstart automaker was ready to attack Detroit’s Big Three in their most profitable market segment. But things clearly haven’t gone the way Musk and company had hoped.
It didn’t help that a demonstration of the Cybertruck’s ruggedness backfired when its supposedly bulletproof windows were smashed. Chief designer Franz von Holzhausen slammed a sledgehammer into the driver’s door, then threw baseball-sized metal balls at two windows. The door panel held up, but two windows shattered.
“Oh, my f---ing god,” Musk blurted out as he realized things had gone horribly wrong.
That might just as well describe the overall reaction to the full-size pickup Musk has been teasing for several years.
Read more at NBC News.