This is where TSLA stock is heading next and may not be good news for investors

Tesla Inc (NASDAQ:TSLA) lost quite a bit of steam after the investor day. The market was eagerly waiting for TSLA to unveil its latest product, but the company has postponed the announcement. It is widely believed that TSLA will introduce a new vehicle in the near future, which will be more affordable and produced in larger quantities, in line with its focus on reducing cost and expanding production. TSLA’s goal is to achieve a 50% cost reduction for its next-generation vehicle compared to current models.

Additionally, TSLA is striving to decrease its dependence on rare earth minerals, which pose significant environmental and health hazards. For its next drive unit, TSLA aims to eliminate the use of rare earth minerals completely. TSLA also confirmed that it plans to begin production of the Cybertruck later this year.

So what does the market anticipate?

It seems a negative response from the market following the event can let one to assume that not to foresee any significant positive developments for the stock in the immediate future. Nevertheless, as Tesla continues to focus on reducing costs and improving efficiency, we believe it will strengthen its competitive position and remain the leader in the electric vehicle industry for many years to come. While there may be limited visibility into the project roadmap in the short term, we remain confident in Tesla’s ability to execute and achieve its long-term goals.