[Tesla Cybercab Update Falls Short of Expectations, Stock Drops Over 6% Intraday] BlockBeats News, September 5 — Tesla's stock price on Friday fell more than 6% intraday in the U.S. market after the company's highly anticipated Cybercab autonomous taxi update failed to meet Wall Street expectations. Investors are expressing concerns about Tesla's ability to compete with Waymo in the U.S. robotaxi market. Tesla held its Cybercab event on Thursday in Austin, Texas. The event was invitation-only, not livestreamed, and CEO Elon Musk did not attend. The company stated that users can experience the Cybercab autonomous driving service within a limited area in Austin through the Tesla Robotaxi ride-hailing app. Analysts from RBC Capital Markets noted that the event revealed only limited new information, with key issues such as pricing, production timelines, and regulatory approvals still unresolved. Wells Fargo analysts also described the Cybercab launch event as "disappointing," highlighting that Tesla's Austin robotaxi service is facing early operational challenges. Additionally, the U.S. National Highway Traffic Safety Administration (NHTSA) has initiated a "review inquiry" to determine whether the Cybercab complies with federal safety standards and has completed the necessary safety certifications. Previously, Tesla's stock price had risen 5.4% the day before the event. [Original Link]