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Tesla’s Autonomous Ride-Hailing Launch Fails to Sustain Stock Rally Amid Goldman Sachs Caution
Tesla’s Autonomous Ride-Hailing Launch Fails to Sustain Stock Rally Amid Goldman Sachs Caution
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BTCCSquare news:
Tesla's stock surged over 8% on June 23 following the limited debut of its autonomous ride-hailing service, only to retreat the next day. The initial optimism, driven by Model Y vehicles operating in a geofenced area with safety monitors, proved fleeting as scaling challenges came into focus.
Goldman Sachs analyst Mark Delaney struck a neutral tone, maintaining a $285 price target—18% below Monday's close. While acknowledging Tesla's long-term positioning in the autonomous vehicle market, Delaney highlighted near-term hurdles: an Austin-specific tech stack, required employee oversight, and early navigation issues. "Some degree of AV-related profit was already priced in," he noted, suggesting the market had overestimated immediate prospects.
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