Elon Musk lost $ 770 million after the presentation of a pickup truck from Tesla

Time will tell if Elon Musk, the futuristic Cybertruck, is interested in drivers, but Wall Street is skeptical. 

Tesla shares fell after the entrepreneur on Thursday showed the long-awaited electric pickup. 

As a result, the fortune of the founder and head of the company, Ilon Mask, fell by more than $ 750 million.

“You need a reliable truck, not a fake,” Musk said of the angular Blade Runner style car. 

“You need a truck that can withstand hammer blows, a truck that won’t scratch or dent.”

To prove that he created just such a car, Musk ordered the Tesla designer to hit the Cybertruck with a sledgehammer. 

Not a trace. But when he told the designer to throw a metal ball into the “armored” windows, something went wrong. “Damn it (Oh my f *** ing God),” Musk exclaimed in surprise as the glass shattered.

From the second ball, thrown with less force, cracks went along the second window. “For some reason, it’s broken now, and I don’t know why,” Musk told viewers at a demonstration in Hawthorne, California. “We will fix it later.”

This demonstration did not inspire investor confidence in Cybertruck, especially given its radical design. The price of Tesla shares fell 6% after the close of trading yesterday, as a result of which the Mask’s fortune declined by $ 768 million per day to $ 23.6 billion (number 41 in the Forbes ranking of the richest people in the world online).

The opinions of Wall Street analysts about Tesla vary. Of the 35 analysts whose opinions Bloomberg gathered, 12 rated the stock “buy,” 9 “hold,” and 16 “sell.” Overall, analysts admitted that the design of Cybertruck is mixed.

“We believe that there are important questions, answers to which will allow us to assess the potential interest of buyers and understand whether this car can attract business or remain a niche consumer model,” wrote Deutsche Bank analyst Emmanuel Rosner in his note, setting the rating to “hold”. Rosner wonders if the Cybertruck design will push customers away and corporate buyers find it reliable enough, noting that “the broken armored glass of a truck during a live demonstration was a bad start.”

Baird analyst Ben Callot is inclined to play for promotion and claims that the innovative characteristics of Cybertruck will attract buyers despite its unusual design. Kallo did not attach importance to the occasion at the demonstration. “It was unpleasant and gave rise to jokes, but we still don’t think that a broken window is so important and should overshadow the rest of the demonstration,” he wrote. “We find this a funny little thing.”

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