Tesla's market value dropped by about $109 billion in a single day after the automaker's fourth-quarter earnings and outlook failed to please investors. According to Bloomberg, shares of the electric vehicle manufacturer fell nearly 12% on Thursday. Tesla's stock hit an all-time low of $829 in New York on that day, the lowest since October 14, 2021.

After a drop on November 9th last year, this was the second time Tesla lost more than $100 billion in a single day slump. Last week's fall in Tesla's market value was mostly due to the automaker's lacklustre results and failure to introduce any new vehicles.

Tesla put a focus on Optimus, a humanoid robot, but there was nothing like introducing a new car that failed to wow investors. Elon Musk, the CEO of Tesla, stated that the company will not release any new electric vehicles in 2022.

This occurred at a time when many believed Musk would release an updated product roadmap to the public, including details on the Cybertruck, Semi truck, and a more affordable Tesla.

Tesla has long been rumoured to be working on a new low-cost electric car with a price tag of roughly $25,000. However, for the time being, the automaker has ruled out the possibility of such a project. Instead, it concentrated on artificial intelligence and self-driving technology.

Experts feel that Tesla's future will be harmed by a lack of fresh product vision at a time when numerous other traditional legacy automakers and EV startups are working feverishly on a slew of new electric car projects. Experts believe that this strategy will halt Tesla's growth in the near future.

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