Tesla (TSLA) stock closed up nearly 5% on Monday as investors bought into CEO Elon Musk’s latest proclamation that Tesla would debut its long-awaited robotaxi on Aug. 8.
Tesla stock closed up nearly 5% on Monday as investors bought into CEO Elon Musk’s latest proclamation that Tesla would debut its long-awaited robotaxi on Aug. 8.
The bear side, however, is that Tesla has given up a “key reason” why many own the stock: the Model 2 as a volume play that would “reaccelerate volume, margins, and FCF ,” Rosner said. It would also mean the bull thesis is based on Tesla cracking the code on self-driving, which will require navigating a number of regulatory hurdles and acquiring enough data to train the software.
ARK Invest founder Cathie Wood recently reiterated the firm’s $2,000 price target on Tesla, forecasting $10 trillion in revenue from robotaxi efforts.
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