Timing of Robotaxi does not change our bullish Tesla thesis: Wedbush

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1) Despite reports of Tesla’s Robotaxi Unveiling event being postponed by two months, Wedbush analyst Dan Ives believes the timing of the showcase is less important than the content of it.

2) While Tesla and Musk were tight-lipped on the development with the Earnings Call less than a week away, Ives said in a note to investors that there is not much to worry about:

“While the knee-jerk reaction will clearly be negative on a delay of August 8th based on this report that just hit, we believe the timing of robotaxis, partnerships, and the ultimate autonomous and AI-driven technology does not change at all for our bullish Tesla thesis.”

3) Ives actually believes that the delay could mean the event is more robust as Tesla could be more prepared and deliver an even better product than it would have in August:

“To some extent, we believe this 2-month delay could just make the actual Robotaxi event and prototypes even better, and more eye-popping for Tesla as Musk and the team know this unlocks the key to the long-term future of the Tesla story, and investors want MORE details…not less at this historic event.”

Timing of Robotaxi does not change our bullish Tesla thesis: Wedbush

My Take: This is my 2nd post about the potential Tesla Robotaxi delay. Until now, the delay has yet to be confirmed by Tesla. The stock has regained more than 3% to 248.76 in the post market which showed that retail investors have overreacted. There are 2 schools of reactions.

Negative: Someone posted the potential delay implies that Elon Musk is keeping empty promises (again). He commented that Tesla Robotaxi is inferior by comparing it with Waymo (Google) Robotaxi and Baidu Robotaxi. However this someone never tell you latter two Robotaxi are also facing problems:

1) Driverless taxi accident in China sparks discussions on challenges of autonomous driving tech - Straits Times

2) Waymo recalls all self-driving cars after driverless taxi crash - SEA Mashable

Positive: Like Wedbush, they believe that Tesla Robotaxi giving a historic event with better prototype is more important than meeting the 8/8 deadline. Wood share the same thoughts in Bloomberg Television yesterday Read here:

Cathie Wood has been pleading for rate cuts. Her flagship fund missed the rally - SEA Mashable

Brian from x.com commented that the Tesla share price dropped after Bloomberg's report was "typical overreaction". I said it was a classic example of panic selling. Read here:
Tesla share dropped after Robotaxi unveiling event pushed back Overreaction?