Tesla shares plunge 6% as Cybertruck pickups are too ugly

Tesla’s sixth model, the Cybertruck pickup, was met with a collective cold eye from Wall Street analysts yesterday after it was unveiled,media reported. U.S. capital markets also used share prices to express their views. Tesla’s shares opened lower on Friday, November 22, with a 7 per cent intraday low of more than 6 per cent, pushing $333 to close at their lowest level since November 6.

Tesla shares plunge 6% as Cybertruck pickups are too ugly

Some Wall Street analysts say Cybertruck’s styling is too odd (or too futuristic), but at this stage it may not shake the traditional pickup market, which can only occupy a small part of the market that Tesla has created. And its share price decline reflects the market’s true view of the car.

In addition, Toni Sacconaghi, an analyst at Bernstein, a brokerage that was rude to Mr. Marx on a earnings call, said, “While we’re happy to see Tesla enter the most profitable area of the North American passenger car market, we don’t think this form of car will succeed.” “Even a lot of critics have gone directly on social media and declared, “This pickup is ugly!” “

Tesla shares plunge 6% as Cybertruck pickups are too ugly

However, in an interview with the media last year, Musk said acknowledging that the electric truck could be hard to find. He said at the time that only a few people would like the concept of pickups, but that in the future they would make more traditional pickup models.

In response, it seems Tesla has long known what the pickup will do. But it’s clear that Tesla didn’t expect the capital markets to be so resistant to the fancy pickup.

And, at yesterday’s pickup launch, there was a little episode. At the scene, Musk asked Franz von Holzhausen, Tesla’s chief design officer, to demonstrate the strength of the pickup glass. The latter threw a round metal ball into the side glass in the driver’s seat, which, surprisingly, shattered.

Although the glass was not completely broken, it was already very embarrassing. “Maybe you hit it too hard,” Musk quipped to ease the atmosphere. Then he picked up the metal ball and smashed it again at the rear seat side window, and the window glass broke again. In response, Musk could only awkwardly end his demonstration of glass strength.

Tesla shares plunge 6% as Cybertruck pickups are too ugly

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