{"id":198735,"date":"2024-10-11T10:00:00","date_gmt":"2024-10-11T14:00:00","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/uncategorized\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\/"},"modified":"2024-10-14T09:36:24","modified_gmt":"2024-10-14T09:36:24","slug":"tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/stocks\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\/","title":{"rendered":"Tesla Slides and Uber Gains as Robotaxi Event Fails to Assure Investors"},"content":{"rendered":"\n

Tesla’s robotaxi event failed to impress investors while Uber\u2019s stock gained on the news.<\/p>\n\n\n\n

Tesla\u2019s (NASDAQ: TSLA)\u00a0highly anticipated robotaxi event<\/a>, held on October 10, 2024, failed to meet investor expectations, while Uber (NYSE: UBER) and Waymo\u2019s expanded partnership, announced a month earlier, has shown promise in the autonomous ride-hailing market.
These developments have had notable impacts on both companies\u2019 stock performances. At the time of writing, Tesla had dropped by over\u00a06% in\u00a0premarket trading<\/a>,\u00a0and Uber had gained almost 5%.<\/p>\n\n\n\n

Tesla\u2019s Robotaxi Event Falls Short<\/h3>\n\n\n\n

Tesla CEO Elon Musk unveiled the company\u2019s \u201cCybercab\u201d robotaxi at a star-studded event titled \u201cWe, Robot\u201d at Warner Bros studio near Los Angeles.

The event, which was months in the making and watched by approximately 4 million viewers on Musk\u2019s X social media platform, showcased a\u00a0futuristic vehicle with gull-wing doors and no steering wheel or pedals<\/a>. Musk announced that production would begin in 2026 with a price tag under $30,000 and an projected operating cost of 20 cents per mile.<\/p>\n\n\n\n

Despite the grand reveal, analysts and investors were left wanting more. Equity trader Dennis Dick expressed disappointment, stating, \u201cI think the market wanted more definitive timelines.\u201d<\/p>\n\n\n\n

Jessica Caldwell of Edmunds praised Musk\u2019s vision but noted that many questions remain about practical implementation. Critics pointed to the lack of concrete details on Tesla\u2019s transformation from an automaker to an autonomous driving and AI titan, as well as the absence of information on a previously promised ride-hailing app and a lower-priced mass-market vehicle.<\/p>\n\n\n\n

Uber and Waymo Forge Ahead<\/p>\n\n\n\n

In contrast to Tesla\u2019s event, Uber Technologies, Inc. and Waymo LLC announced an expansion of their existing partnership last month, on September 13, 2024<\/a>.

The collaboration aims to bring autonomous ride-hailing services to Austin and Atlanta by early 2025, building on their previous success in Phoenix. Under the agreement, Uber will manage and dispatch a fleet of Waymo\u2019s fully autonomous, all-electric Jaguar I-PACE vehicles, with the fleet size expected to grow to hundreds over time.<\/p>\n\n\n\n

The partnership leverages both companies\u2019 strengths, with Uber providing fleet management services and Waymo remaining responsible for the testing and operation of its autonomous driving technology. This strategic alliance has been viewed positively by industry observers, as it combines Uber\u2019s vast user base with Waymo\u2019s advanced self-driving technology.<\/p>\n\n\n\n

UBER Gains, TSLA Stumbles in Premarket Trading<\/p>\n\n\n\n

As of 6:42 AM EDT on October 11, 2024, (at the time of writing) Tesla\u2019s stock was trading at $223.87 in pre-market, down 6.24% from its previous close of $238.77. The company\u2019s market cap stood at $762.784 billion, with a trailing P\/E ratio of 67.05. Tesla\u2019s year-to-date return of -3.91% has underperformed the S&P 500<\/a>, which is up 21.18% over the same period.<\/p>\n\n\n\n

In contrast, Uber\u2019s stock was trading at $81.60 in pre-market, up 4.72% from its previous close of $77.92. Uber\u2019s market cap was $163.705 billion, with a trailing P\/E ratio of 84.70. The company has outperformed the S&P 500 with a year-to-date return of 26.56%.
<\/p>\n\n\n\n

—<\/p>\n\n\n\n

Tesla Slides and Uber Gains as Robotaxi Event Fails to Assure Investors<\/a><\/p>\n\n\n\n

Disclaimer: The author does not hold or have a position in any securities discussed in the article.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla’s robotaxi event failed to impress investors while Uber\u2019s stock gained on the news.<\/p>\n","protected":false},"author":501,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[147,8,12,153,148,7],"tags":[],"contributors-categories":[326],"class_list":{"0":"post-198735","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-north-america","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"contributors-categories-the-tokenist"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nTesla Slides and Uber Gains as Robotaxi Event Fails to Assure Investors<\/title>\n<meta name=\"description\" content=\"Tesla's robotaxi event failed to impress investors while Uber\u2019s stock gained on the news.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/198735\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla Slides and Uber Gains as Robotaxi Event Fails to Assure Investors\" \/>\n<meta property=\"og:description\" content=\"Tesla's robotaxi event failed to impress investors while Uber\u2019s stock gained on the news.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-11T14:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-14T09:36:24+00:00\" \/>\n<meta name=\"author\" content=\"Tim Fries\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim Fries\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"Article\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Tim Fries\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/8aec5ebeb263dcb77586039ad857f7ae\"\n\t },\n\t \"headline\": \"Tesla Slides and Uber Gains as Robotaxi Event Fails to Assure Investors\",\n\t \"datePublished\": \"2024-10-11T14:00:00+00:00\",\n\t \"dateModified\": \"2024-10-14T09:36:24+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\\\/\"\n\t },\n\t \"wordCount\": 531,\n\t \"commentCount\": 0,\n\t \"articleSection\": [\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Stocks\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"CommentAction\",\n\t \"name\": \"Comment\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/tesla-slides-and-uber-gains-as-robotaxi-event-fails-to-assure-investors\\\/\",\n\t \"name\": \"Tesla Slides and Uber Gains as Robotaxi Event Fails to Assure Investors - 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