Tesla shares dropped 6% Tuesday after BYD announced a partnership with DeepSeek to develop autonomous driving technology and plans to offer its Autopilot-like system in most of its new vehicles. Tesla’s stock has declined for five consecutive days, losing nearly 17% and erasing over $200 billion in market value. Analysts at Oppenheimer warned that the growing autonomy race could limit Tesla’s profitability. Morgan Stanley reaffirmed its $430 price target, citing competitive dynamics in the robotaxi market. Investor concerns over Elon Musk’s distractions deepened following reports that he is leading a nearly $97 billion investor bid for OpenAI and increasing his involvement with the Trump administration.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla shares dropped 6% Tuesday after BYD announced a partnership with DeepSeek to
00:07develop autonomous driving technology and plans to offer its autopilot-like system
00:13in most of its new vehicles. Tesla stock has declined for five consecutive days,
00:17losing nearly 17% and racing over $200 billion in market value.
00:22Analysts at Oppenheimer warned that the growing autonomy race could limit Tesla's profitability.
00:28Morgan Stanley reaffirmed its $430 price target, citing competitive dynamics in the
00:34robo-taxi market. Investor concerns over Elon Musk's distractions deepened following reports
00:40that he is leading a nearly $97 billion investor bid for OpenAI and increasing his involvement
00:46with the Trump administration. For all things money, visit Benzinga.com slash GSTV.