ALBAWABA – A Tesla that can fly? Elon Musk has been teasing the idea for years, and renewed attention around the Roadster has brought the futuristic concept back into the spotlight. But Tesla investors have had something else to think about this week: the company's falling share price.
Tesla stock dropped from around $382 on October 9 to $362 on October 15, a decline of more than 5% in less than a week.
And while the idea of a flying Tesla is enough to get people talking, Wall Street appears to have other priorities.
Musk has long claimed that Tesla's next-generation Roadster could do things no ordinary sports car can, including potentially hovering above the road.
The idea involves technology developed with SpaceX, using small thrusters to give the electric car capabilities beyond conventional driving.
The Roadster was first announced back in 2017. Nearly nine years later, buyers are still waiting for it.
That delay is one reason investors may be reluctant to get carried away by another ambitious Tesla project.
Tesla waited nearly 9 years, then flipped a Roadster off a ramp and made the internet believe in flying cars.
> Tesla first showed the Roadster in November 2017 and promised production in 2020.
> Thursday night, at a SpaceX facility in Texas, the car drove up a steep ramp, hung upside down, spun off, flipped, and landed on air jets.
> It then used its thrusters to lift itself over a Cybercab, Cybertruck, Tesla Semi, Model Y and Model 3.
> Tesla claims 0-60 mph in 0.81 seconds.
> Musk’s reaction to the landing was “Well, it worked.”
> Afterward he posted: “Turns out the future does have flying cars.”
> All three versions get the fan suction system, which Tesla says generates 2Gs of downforce.
> The single-seat Rocket version gets the full flight system.
> Production is targeted for 2028.
> Tesla stock was down about 19% this year before the reveal.
> It rose nearly 3% overnight.
> Flying-car stocks in China hit daily limit-up after the reveal.
> Startup Alef released a video of its own flying car going over the Roadster to “welcome it to the flying car race.”
Nine years ago it was a promise. Thursday night it flew.
Tesla shares have had a difficult few days. After trading around $382 on October 9, the stock slipped to roughly $362 by October 15.
The decline came amid continued concerns over Tesla's earnings, competition from other electric vehicle manufacturers, and whether its ambitious projects will deliver the growth investors expect.
There is also an important detail: the stock started falling before the latest flying-car discussion gained attention. So it would be misleading to blame the drop on the Roadster.
Tesla has built much of its reputation on doing things other automakers wouldn't attempt. A Roadster equipped with SpaceX-inspired technology would certainly fit that image.
But investors have heard big promises about the Roadster before, and the car still hasn't reached production.
With Tesla's next earnings report approaching, shareholders will likely be paying closer attention to the company's numbers than to what its next sports car might be able to do.
For Musk, getting a Tesla off the ground may be the exciting part. Getting investors excited enough to lift the stock could be another story.
Osama Ali is an accomplished English content writer and news writer. With a strong command of language and a flair for storytelling. His expertise lies in delivering accurate and well-researched news pieces, ensuring that information is presented clearly and concisely. A dedicated professional who stays up-to-date with the latest trends in the English writing industry, consistently producing high...
Subscribe to our newsletter for exclusive updates and enhanced content
