Uber (UBER) stock rose on Friday after Tesla’s (TSLA) robotaxi event largely disappointed investors. GLOBALT Investments Senior Portfolio Manager Thomas Martin joins Market Domination Overtime to discuss the competition and why Uber benefited from this event.
“Tesla stock and Uber both reacted as expected given Tesla’s Roboday, which was a classic example of long versus short, and the opposite for Uber and Tesla,” Martin said. movement.
“If Tesla can solve self-driving cars and robots in the short term, or even have a medium-term roadmap in sight, that could be a problem for Uber in the long term,” he told Yahoo Finance. Yes, but the devil is in the details.” ”
Uber has become more attractive to investors as investors seek more insight and more information on robotaxi deployments. So even if Tesla misses its expected timeline for the robotaxi release, Uber will have more time to stay ahead of the competition.
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This post was written by Melanie Leal
