Elon Musk has been in the news quite a bit recently. But today, he was back in the headlines for better reasons, delivering the company’s first Cybertrucks at its Austin headquarters. 🛻
The live event comes after roughly four years of delays and missteps. In it, Musk touted the truck’s towing abilities, bulletproof doors, and straight-line speed, with the event ending with several customers taking delivery of their vehicles.
As for pricing, the cheapest rear-wheel drive model will start at $60,990 before discounts and won’t be available until 2025. However, its top-of-the-line “Cyberbeast” will cost $99,990 and deliver roughly 320 miles of range. ⚡
Investors and customers alike have been waiting anxiously for the release, as production was slated to begin in late 2021 but was delayed by supply chain and manufacturing issues. But in terms of business and financial impact, that will have to wait. Production is still ramping up, and this is not expected to be a mass-market product given its high price point and “interesting” design.
As a result, $TSLA shares saw little reaction around the event and were down a few percent on the day. As for the Stocktwits community, message volume soared today as investors discussed the event. But overall sentiment leaned bearish. 🐻
