U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Friday. However, Tesla shares took a significant hit in pre-market trading after the company’s much-anticipated robo-taxi unveiling event fell short of investor expectations.
Tesla’s Thursday event, held in Los Angeles, showcased a two-seater Cybercab capable of self-driving and a robovan with no pedals designed to accommodate around 20 passengers. Despite the unveiling, the event lacked specific details, leaving investors wanting more. Notably, the company did not disclose the price of the robovan, and CEO Elon Musk announced that the smaller Cybercab wouldn’t join the autonomous taxi fleet until 2026. Musk also acknowledged his history of optimistic timelines, hinting at the possibility of further delays.
The underwhelming event resulted in a 5.6% drop in Tesla shares, reaching $225.35 in pre-market trading.
Here are some other notable stocks recording losses in today’s pre-market trading session:
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Lilium N.V. (LILM):
Shares fell 10.6% to $0.66 after dipping 5% on Thursday.*
Hesai Group (HSAI):
Shares declined 9.9% to $4.83 in pre-market trading.*
A. O. Smith Corporation (AOS):
Shares dropped 9.4% to $78.16 after the company lowered its FY24 earnings forecast.*
Nyxoah S.A. (NYXH):
Shares fell 8.3% to $8.71 in pre-market trading.*
Indivior PLC (INDV):
Shares dipped 7.3% to $7.40 after reporting preliminary third-quarter revenue guidance and cutting its FY24 net revenue guidance below estimates. Indivior shares had already dropped over 15% on Thursday.*
Innventure, Inc. (INV):
Shares fell 7.3% to $10.60, reversing a gain of around 8% on Thursday.*
UP Fintech Holding Limited (TIGR):
Shares dropped 5.7% to $7.65 in pre-market trading.These pre-market movements suggest a cautious start to the trading day, with investors closely watching for further developments and company updates.
