Tesla (TSLA) shareholders often react to the news that CEO Elon Musk reveals at its quarterly or annual meetings.
The electric vehicle manufacturer's shares often decline after its meetings and today's 2023 investor meeting may yield the same result.
Shares of Tesla are down by 1.4% today, but rose by 11.8% during the past month.
Tesla's stock rebounded by 87% year-to-date after falling to close at $123.18 on Dec 30.
The day after the EV company's Artificial Intelligence Day on Sept. 30, 2022, that included a prototype of Optimus, its humanoid robot, some shareholders fled and the stock fell by 8.6%.
The technical information given at AI Day did not reveal any revenue projections or other details that investors typically respond to during company meetings. It was an update on its Tesla Bot that was revealed in 2021.
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Shares Have Fallen After Tesla Information Events
Shares of the company also fell in September 2020 when Tesla hosted a battery technology day. The stock fell by 10.3% even though the company discussed manufacturing lower-cost batteries for electric vehicles. Prior to the event, shares had risen nearly 30%.
In November 2019, the company finally revealed a potential new vehicle, its Cybertruck, but investors were wary of its simple design. Some questioned whether the new truck could compete with other electric-powered pickup truck manufacturers such as Ford's F-150 Lightning and win over long-time fans of more trucks with a more traditional appearance.
There has been an exception -- Tesla's stock increased after one event recently, although the rise was only 1%. Investors had a lukewarm response to the Aug. 19, 2021 inaugural Artificial Intelligence Day. Instead of revealing an actual robot, the company had a person wearing a robot suit dancing on the stage.
The likelihood that the stock will decline after today's meeting remains high.
Investors Listening to What Elon Musk Says
Investors will be listening for Musk to discuss the recent recall of its Full Self-Driving feature, details about its new manufacturing facility in Mexico and what vehicles would be produced, updates on its semi truck, its new rumored $25,000 vehicle and demand for its vehicles that have received a $7,500 tax credit.
The new plant, if Tesla confirms it, will be the company's fifth and the third outside the U.S. The company already has four car-assembly factories: Fremont, Calif., and Austin in the U.S. as well as Shanghai and Berlin.
