Tesla’s investor day served up an example of an old Wall Street adage: Buy the rumor, sell the news.
The event late Wednesday failed to live up to the frenzy of anticipation that preceded it. The company didn’t commit to any new numbers or dates, as other companies typically do on investor days. That wasn’t surprising: Tesla isn’t one for medium-term targets or doing the usual corporate thing. What was disappointing is that it didn’t offer much else to fill the void.
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