Tesla RoboTaxi, We Robot – What Wall Street is Missing (TSLA DOWN BIG)

/ October 11, 2024

From Bearded Tesla Guy.

Tesla finally unveiled the RoboTaxi or CyberCab at We Robot event in Burbank California. During the extensive event at the Warner brothers studio lot, we were given our first look and first rides inside this next generation driverless car.

The RoboTaxi was also accompanied by the CyberVan, a 20 passenger people mover that is expected to move larger groups of people around the city autonomously. Finally, we had an update and in person demonstration from Optimus, the humanoid robot from Tesla that is expected to change the world in so many ways in the coming decade.

Demonstrations were on point, the venue was solid, and the excitement on the ground was high. So what happened at Wall Street? We saw a significant drop in share price following the details of the event, and the general consensus from finance is not that great.

The biggest issue for Wall Street was the lack of details. We already knew much of what was shown yesterday, and the demonstrations were nothing unexpected. What was unexpected was the lack of order details, price, range, how to enroll in the fleet, and so much more.

Unfortunately Wall Street tends to be short sighted so not having much substance for the bottom line in the next 6 months didn’t appease the banks. But that’s not the reality of what happened yesterday.

Yesterday we had a full demonstration of RoboTaxi, Optimus literally marched on the scene, existing cars made today are capable of autonomous driving, and the continued pace of progress on Optimus is so under appreciated it’s unbelievable.

It’s ok to be disappointed in lack of details, but don’t confuse Wall Street sentiment with the future of this company.

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