Tesla pivot to AI and robots hits shares nearly 20%
Business
Tesla's stock is taking a hit as the company shifts focus from electric cars to AI and robots.
This move hasn't gone smoothly: US sales just hit a four-year low, and shares are already down nearly 20% this year.
HSBC's Tyndall warns Tesla 60% downside
HSBC analyst Mike Tyndall thinks Tesla's stock could drop another 60%, pointing to fierce EV competition and what he calls overestimating global growth opportunities.
Tesla is also struggling to launch its Cybercab robotaxi and is waiting on key approvals for its self-driving tech in Europe.
The big picture? Tesla might need to rethink its strategy if it wants to bounce back.