Tesla Stock Faces Weekly Decline Amid Cybercab Manager Departure
Tesla shares continued their downward trajectory, trading between $405 and $408 on Friday. The stock has declined approximately 5% since late January's earnings report, despite surpassing expectations. This marks three losing weeks out of the past four.
Victor Nechita's departure as Cybercab program manager adds pressure during a critical phase. His exit coincides with the first production unit rollout, though he praised his team's achievements in efficiency and safety. Tesla's ambitious robo-taxi plans target nine cities by mid-2026, trailing Waymo's existing ten-city operation.
Wall Street maintains a cautious stance, with analysts assigning a $396.80 average price target. Tesla's valuation remains stratospheric at 200 times projected 2026 earnings—tenfold the S&P 500's multiple.
