Reports of a potential delay in Tesla, Inc.'s
Several analysts addressed the ramifications of such an eventuality.
Johnson's Take: Tesla bear Gordon Johnson of GLJ Research sensed a far more severe issue than a two-month delay.
"If $TSLA is willing to put a man/woman in a leotard for the original unveiling of the Optimus Robot....& pillow sheets over cars that 'are coming' at Battery Day/AI Day, why wouldn't they use a CNC machine to put virtually ANYTHING out for Robotaxi Day UNLESS...," he said in a social media post.
Johnson does not subscribe to the idea that the event was delayed to allow more time for vehicle prototypes.
"Seems (very) odd to me as a prototype can be made, w/ a CNC machine, in a matter of weeks," he said.
Many investors trade around Tesla days/events, which have turned out to be sizeable disappointments, he added.
"Now that 'Robotaxi Day 8/8' is not happening as originally scheduled, the folks trading TSLA's stock into this event are likely now sellers," Johnson wrote.
Given the 11-session winning streak in Tesla shares that saw the stock add over 44%, Johnson said the selling could be quite material.
Munster, Ives Shrug Off Development: The rumored delay is a reminder that "in the world of Tesla things take longer than expected," said Deepwater Asset Management's Gene Munster. The tech venture capitalist said the shift in timing doesn't change anything. "Tesla is still best positioned to lead in an autonomous future, which will unlock higher margins," he added.
Wedbush's Daniel Ives, who was very positive in the runup to the event, termed the negative stock reaction on Thursday as "knee jerk reaction."
"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," he said. The two-month delay, Ives said, could just make the actual Robotaxi event and prototypes even "better and more eye popping" for Tesla.
The analyst maintained an Outperform rating and $300 price target for Tesla shares.
Musk hasn't confirmed or denied the rumor, although in a separate context, he said on X that "the amount of testing time it takes to figure out if the new AI is better than the existing AI as measured by miles between interventions is the limiting factor on progress."
"The better FSD gets the longer it takes to find interventions."
At last check, Tesla rose 1.58% to $244.85, according to Benzinga Pro data.
