Shares of Tesla (TSLA 4.67%) fell on Tuesday, down 3.7% at 12:25 p.m.
The electric-car maker's stock was down likely for two primary reasons: a bearish day for the stock market overall and some comments from Tesla CEO Elon Musk over the weekend about how rolling out self-driving-like features for its vehicle fleet has been more difficult than expected.
In response to a Tesla owner teasing Musk on Twitter for missing a deadline to roll out the next beta version of Tesla's "self-driving" technology (which notably requires drivers to be fully attentive at the wheel and ready to take over), the CEO admitted over the three-day weekend that he hadn't expected achieving "generalized self-driving" to be "so hard, but the difficulty is obvious in retrospect." Musk did, however, say that the next version of the beta "is shipping soon, I swear!"
Meanwhile, a 0.8% decline in the S&P 500 at the time of this writing reflected a bearish day in the overall market, which likely weighed on the growth stock.
To Musk's credit, any driving technology used in production vehicles that even somewhat resembles full self-driving would be quite an accomplishment. In other words, this isn't your average technological development.
Nevertheless, repeatedly missing updates for its full self-driving technology could hurt Tesla's reputation.