Tesla (TSLA) Stock Heads for Another Weekly Loss as Cybercab Program Manager Exits Before Launch

TLDR

• Tesla stock slipped to around $405–$408 Friday, heading for another weekly loss and down ~5% since its January earnings report
• Victor Nechita, Tesla’s Cybercab program manager, announced his departure just as the first Cybercab rolled off the assembly line
• Tesla plans robo-taxi operations in nine cities by mid-2026, but rival Waymo already operates in 10 cities
• Tesla’s stock trades at over 200 times estimated 2026 earnings, roughly 10 times the S&P 500 average valuation
• Wall Street analysts have a Hold consensus on Tesla, with an average price target of $396.80, implying slight downside

Tesla’s stock slipped Friday, adding to a rough week for the electric vehicle maker. Shares were trading around $405 to $408, down about 0.1% in early trading.

Tesla, Inc., TSLA

The stock has now fallen in three of the last four weeks. It is also down around 5% since Tesla reported better-than-expected fourth-quarter results in late January.

The latest pressure came from news that Victor Nechita, Tesla’s Cybercab vehicle program manager, had announced he was leaving the company. He shared the news on LinkedIn.

His exit comes at a sensitive moment. The first Cybercab had just rolled off the assembly line when Nechita made his announcement. Tesla has not said who will replace him or commented on his departure.

Robo-Taxi Plans Under Pressure

The Cybercab is a purpose-built robo-taxi with no steering wheel or pedals. Tesla launched a robo-taxi service in Austin, Texas last June, using Model Y vehicles.

The company plans to expand to nine cities by the middle of 2026. That puts it just behind Alphabet’s Waymo, which already runs robo-taxi services in 10 cities.

Robo-taxi growth is central to Tesla’s investment case. The company is trying to convince investors that its “physical AI” products — including self-driving cars and robots — will drive a new phase of earnings growth.

Tesla’s stock currently trades at more than 200 times its estimated 2026 earnings. That makes it about 10 times more expensive than the average S&P 500 company.

Investors have been patient, but the stock’s recent slide suggests some are growing cautious. Tesla needs to show the Cybercab rollout is on track, especially now that a key program leader has stepped down.

Cybertruck Gets New Feature

Separately, Tesla confirmed this week that the Cybertruck will soon support Active Noise Cancellation. The hardware for the feature was always present in the vehicle but was never activated.

The system uses microphones and speakers to detect road noise and reduce it. Tesla has used similar technology in the Model S and Model X since 2021.

Despite the news, Tesla shares fell nearly 3% Thursday. The Cybertruck update did little to improve market sentiment.

Tesla also revealed that its Hollywood diner, which includes 80 EV charging stalls, was partially built using recycled stainless steel from Cybertruck production.

Wall Street analysts currently have a Hold consensus on Tesla stock. The rating is based on 12 Buy, 11 Hold, and 7 Sell ratings over the past three months. The average analyst price target sits at $396.80.

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