Tesla, Inc (NASDAQ:TSLA) is working hard to introduce its much-awaited Cybertruck to the market and enthusiasts are eagerly waiting for Tesla’s “iPhone moment.” Social media is abuzz with posts sharing updates and images of the vehicle’s progress.
A Tesla influencer known as @TeslaSynopsis on Twitter shared an intriguing video featuring the front and rear views of the Cybertruck. Although the exact time of the video is unclear, it has already garnered over 1.4 million views and highlights the tremendous public interest surrounding the vehicle’s launch. The video also appears to have been filmed at the Giga Texas site, providing a glimpse of a factory worker in motion.
Tesla’s CEO, Elon Musk, also expressed his thoughts on the Cybertruck’s design and production process. Recognizing the challenges in these areas, Musk said, “This was a challenging product to design and even more difficult to build.” However, he conveyed confidence in its eventual success.
Why It Matters: The Cybertruck’s progress is significant for Tesla given the drop in its deliveries due to economic uncertainties. Despite the company’s efforts, including aggressive price cuts, sales have been poor. Analysts are optimistic that the Cybertruck will rejuvenate Tesla’s sales figures. Gary Black from Future Fund predicts a fourth-quarter launch for the Cybertruck, with an estimated unit potential of over 250,000 by 2024. Even “Shark Tank”-fame Kevin O’Leary acknowledges the Cybertruck’s widespread appeal, referring to it as a “very interesting” vehicle and recognizing the immense demand surrounding it.
Price Action: Tesla’s stock closed Tuesday’s session at $185.77, representing a 1.64% decrease, according to data from Benzinga Pro.
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