Elon Musk went again to his previous playbook with the robotaxi occasion, teasing untried know-how and mixing it with hype. The issue is that he routinely blows by deadlines by an order of magnitude and last pricing would not resemble what was promised. There is no such thing as a world the place cybercabs are on the highway in 2026.
Shares are down 8% on the open however there’s something of a bounce off the lows as shorts take revenue (TSLA is the most-shorted inventory on the S&P 500).
What I discover fascinating is the robotics. I am a giant believing that what Musk was speaking about with regard to robots doing every part is coming and so they’re in a good spot to construct them. The factor is, China is in a significantly better spot to construct them so it is robust to justify a $700 billion market cap in a phase that is broad open.
On the flipside of Tesla, shares of Uber are the best-performing inventory, up 8% because the aggressive menace from the cybercab seems to be distant.