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Tesla (TSLA) stock has lost more than 15% so far in October, and has turned negative for the year with a loss of more than 12%. The company had three key events lined up for this month: the Q3 delivery report, the “We, Robot” product launch event, and its Q3 earnings report - only the last of which is still remaining on the docket.
Tesla’s Q3 deliveries failed to impress; while they rose YoY for the first time this year, the number still fell short of Street estimates. The “We, Robot” robotaxi event – on which a lot was riding – was an even bigger letdown. There was a lack of concrete timelines about the robotaxi and the other futuristic products that Tesla is building, leading to a nearly 9% fall in its stock price on Oct. 11.
