Tesla, Inc. (TSLA.US) Roadster unveiling event set for Friday: Musk teases "greatest product demo ever," nine years of hype culminate in the debut of the "flying sports car"

Tesla, Inc. (TSLA.US) shares fell ahead of the Roadster unveiling event, as CEO Musk is setting expectations sky-high for the electric sports car's first live demonstration in nearly nine years. Tesla, Inc. closed down 2% on Wednesday and has fallen 4% this week, heading for its worst weekly performance in nearly three months. The unveiling is scheduled to be livestreamed at 7:55 p.m. Central Time on Thursday (8:55 a.m. Beijing Time on Friday). Musk wrote on X: "The new Tesla, Inc. Roadster has the potential to be the greatest product demo ever." He also teased: "Let's just say the demo will be a BANGER probably metaphorically, but possibly literally." On Wednesday he added another intriguing teaser: "Timing is everything." A Hype Build-Up Hitting Macro Headwinds Musk's Roadster hype is running straight into a hotter-than-expected inflation report which reignited fears of Fed rate hikes, with the 10-year Treasury yield briefly touching about 5.32%, and the Nasdaq logging its worst single-day performance in nearly three months. A Barclays report about a potential Tesla, Inc.-SpaceX merger also added pressure on the stock. Currently, Tesla, Inc. trades at a forward price-to-earnings ratio of about 187x, making it the most expensive stock among the "Magnificent Seven." Year to date, Tesla, Inc. is the worst performer among the "Magnificent Seven," down about 18%. A Demo Nine Years in the Making The outdoor demonstration was originally scheduled for October 1 but was postponed by two weeks due to severe weather forecasts and high winds. Tesla, Inc. said it had been monitoring weather conditions with local meteorologists, and the event could only be held outdoors; Musk explained the reason at the time: "Due to high winds, the new Roadster demo is postponed two weeks." Musk has for years hinted that this Roadster could do far more than just "drive." In 2017, he proposed a special upgrade package that would enable short-distance flying hops; in 2018, he described a SpaceX option package containing about 10 small rocket thrusters, saying the hardware would improve acceleration, top speed, braking, and cornering, and that "maybe they could even make a Tesla, Inc. fly." He also described a compressed air system with pressure vessels replacing the rear seats, turning the Roadster from a four-seater into a two-seater. In 2021 he reiterated that the Roadster would be equipped with thrusters; by 2024, he said outright that "the new Tesla, Inc. Roadster can fly," and said Tesla, Inc. had significantly raised its design targets, adding that "even if you call it a car," there would never be another one like it. The "Timing is everything" post also hides an Easter egg: in 24-hour time, 7:55 p.m. is 19:55, a nod to 1955 the year Marty McFly travels back to in "Back to the Future." The Roadster's connection to the film has precedent: in 2019, Musk responded to an animation of a flying DeLorean by saying "the new Roadster will actually do something like this," and that same year said "the SpaceX thruster package will be subtle, hidden behind the license plate." Tesla, Inc. first unveiled the next-generation Roadster as an Easter egg at the Semi event in November 2017, with production originally planned for 2020. After repeated delays, nearly nine years have passed from its debut to this demonstration. What Investors Care About Beyond the demonstration, investors and reservation holders want to see a clear path to production. Tesla, Inc.'s second-quarter manufacturing progress report still lists the Roadster in the "design development" stage, with the manufacturing location undecided. Less than a week after the event, Tesla, Inc. will report third-quarter earnings after market close on October 21. On Stocktwits, retail sentiment on Tesla, Inc. was "neutral" a week ago but has now slid toward "bearish," with 24-hour message volume surging 75%. One user questioned whether the event could lift the stock: "Musk is trying to pump Tesla, Inc., lol." Others questioned the car's commercial appeal, pointing to the number of years since its debut and expressing doubt about demand. Traders also buzzed about the Barclays report: the bank believes a merger announcement could come before Tesla, Inc.'s annual shareholder meeting (which must be held by December 6 at the latest), or could be announced separately in the latter case, Barclays expects news within 6 to 12 months. The bank sees the most likely structure as SpaceX acquiring Tesla, Inc. in an all-stock deal, with Tesla, Inc. shareholders receiving SpaceX shares. One user pressed on the exchange terms: "How could Tesla, Inc. shareholders not lose money in that deal?" Another said: "No matter how the deal is structured, the loser will be you it certainly won't be Musk."