) stock jumped in Monday trading as investors bought into CEO Elon Musk’s latest proclamation that Tesla would debut its long-awaited robotaxi on Aug. 8.to build a long-awaited sub-$30,000 EV, which some have called the Model 2. Reuters said that Tesla would instead focus on a self-driving robotaxi, with Musk respondingthat Reuters was "lying ,” before returning to the platform later to announce the unveiling of the robotaxi, generally understood to have no steering wheel or pedals.
“Professional investors follow momentum. They measure retail momentum very carefully, and the size of the uplift on this announcement will be measured by all my clients across Wall Street,” Irwin said. After the initial digestion of the news, Irwin believes Tesla’s autonomous play is still far off. “I think the stock can get cut in half; I think there's more price cuts to come. I think that there's more margin compression, and this is a diversion away from the fact that the company is now shrinking,” Irwin concluded.Oil sands producer Syncrude Canada, majority-owned by Suncor Energy, will pay C$390,000 after pleading guilty to a health and safety charge relating to the death of a worker on one of its sites in 2021, the Alberta government said on Monday.
Trump Media CEO Devin Nunes says Truth Social parent company is ‘well positioned’ in response to criticism over profitability