On September 5, Tesla’s (TSLA.O) stock price plummeted more than 6% during Friday’s trading session. The slump followed the company’s much-hyped Cybercab autonomous taxi update, which fell short of Wall Street’s expectations and fueled investor doubts about its capacity to rival Waymo in the fiercely competitive U.S. robotaxi market. Tesla hosted an invite-only Cybercab event in Austin, Texas, on Thursday—a closed-door affair that was neither live-streamed nor attended by CEO Elon Musk. The company announced that users could access Cybercab’s self-driving service in select Austin neighborhoods via the Tesla Robotaxi ride-hailing app. However, analysts at RBC Capital Markets criticized the event for revealing scant new details, leaving critical questions about pricing, production timelines, and regulatory approvals unaddressed. Wells Fargo analysts echoed the sentiment, labeling the launch event underwhelming and highlighting early operational hurdles for Tesla’s robotaxi service in Austin. Meanwhile, the U.S. National Highway Traffic Safety Administration (NHTSA) has launched a review to verify whether the Cybercab meets federal safety standards and has secured necessary safety certifications. Notably, Tesla’s stock had surged 5.4% a day prior to the event, underscoring the market’s initial optimism.