Tesla shares are falling after Cybercab event. What analysts are saying
Tesla shares decline and here's what Wall Street analysts are saying
TL;DR
- Tesla shares fell over 6% after the Cybercab launch.
- The Cybercab is a two-seat, driverless vehicle being added to Tesla's robotaxi service.
- The launch event lacked a public livestream, differing from Tesla's usual theatrical reveals.
- Analysts from Wells Fargo and Barclays expressed disappointment with the limited details on fleet size and rollout timelines.
- JPMorgan anticipates a modest pullback in stock price due to limited information on deployment.
- Morgan Stanley believes continued expansion of the unsupervised Cybercab fleet will drive share outperformance.
- Goldman Sachs highlighted Cybercab's potential for an attractive cost structure if cost targets are met.
- RBC Capital Markets and Baird remain optimistic with 'Outperform' ratings and price targets.
- Texas has authorized 45 Cybercab vehicles for driverless operations out of 420 total registered Tesla vehicles.