Tesla Robotaxi Event On Course For Later Today: What Catalysts Could Pop Or Drop The Stock?
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Benzinga's PreMarket Prep is the #1 go-to source for everything you need to know before the market opens! Join our expert hosts as they break down the latest market trends, analyze key indicators, and provide actionable insights to help you navigate the trading day ahead.
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00:00We can talk Tesla real quick.
00:01We've got about 10 minutes before the speech.
00:03No, we're not talking Tesla.
00:04I am getting messages left, right, and center.
00:06What are you doing with your Tesla?
00:08What are you doing with your Tesla?
00:09What are you doing with your Tesla?
00:11It's all, they're attacking me.
00:13It's the biggest position in my long-term portfolio.
00:16I have no trade on, all long-term.
00:19I've not sold a share.
00:20Now, again, part of me thinks, here's my thought process,
00:24is a lot of me thinks that this could be a disappointing event,
00:29that the stock could go down like 20 bucks on it.
00:32It's not a trade.
00:33If I had it on for a trade, I would sell it.
00:35If I had this on, and I was up 40 or 50 or 60 points,
00:39which I'm up 60 points, I believe, on it right now,
00:41and it was a trade, I would sell it.
00:44I don't think I'm going to sell any.
00:46Obviously, I haven't fully decided yet,
00:48but I'm leaning towards selling none.
00:51One, because it's in the long-term portfolio,
00:52and I believe in the long-term story here.
00:55But two, you know what?
00:56The setup here is a little bit more interesting
00:58than we're used to.
00:59It is up today, but there's been no run-up into this event, none.
01:04And I think that's because everybody is expecting a lot.
01:08Not everybody is a tough word,
01:10but a lot of people are expecting this to be a flop.
01:15A lot of people are saying, well, FSD isn't close.
01:17How are you coming out with a robo-taxi?
01:19So I think there's a lot of expectations
01:21that this is going to be a flop, and maybe it is.
01:23Maybe everybody's going to be right,
01:24and it's going to be a flop,
01:25and the stock's going to fall 10% today.
01:28It's possible.
01:29But if there's any hint that,
01:32ooh, we didn't think about that,
01:35you could see a rally in this
01:38because there has really been no run-up into the event.
01:41If this were a ran from 2.40 to-
01:43Okay, so there's been no run-up over the last week or so.
01:47The stock was at 180, 182 on August 5th,
01:52and it went to 260.
01:54So maybe you didn't get your immediate-
01:56You think the run already happened?
01:58Yeah, and now if you,
02:01and I don't know if there was earnings or whatever in there,
02:03you had a nice rally in the market.
02:05If you're just not holding on for the long-term like you are,
02:10then there has been a run-up.
02:12If you're playing this technically, fundamentally, Elon Muskingly,
02:17I mean, there has been a run-up.
02:19I'll just, I want to say two things.
02:21One, it's just all about 2.40 here,
02:23and I have no idea if it's going to zigzag,
02:26go to 260, but that's an area.
02:29If it holds a solid 2.40 bid,
02:31even if it breaks down to 220,
02:33comes back and holds 2.40,
02:36that's the level of that.
02:37And then the second thing,
02:38and I may be showing some of my ignorance here about the truck.
02:43Okay, but Dennis, what is like your truck?
02:47What's one of the primary reasons you have your truck?
02:51So what do you do?
02:52Do you take the sides off the Cybertruck to haul stuff?
02:55I have no idea.
02:57It's not built for, it's not like a pickup.
03:00They're trying to say it could be used as a pickup.
03:04So full disclosure, I will not get a Cybertruck.
03:07There's no way I'm going to get a Cybertruck.
03:08One, because it's $180,000 Canadian.
03:11That's what it is over here, $180,000, which is just insane.
03:15But we've got to remember,
03:17this isn't really about the Cybertruck here.
03:19This is about the RoboTaxi and full self-drive.
03:22I think a lot of people really do,
03:24like Shaq has one.
03:26The Cybertruck is actually doing quite well.
03:28People are saying it's not doing well.
03:30That is not the case.
03:31Their wait list is huge.
03:33They're trying to produce these things.
03:34They're actually selling these things.
03:36So it's not like, oh, they're all sitting on the lots
03:38and they're not selling.
03:39You can't even get them in Canada yet.
03:41There is a huge wait list here.
03:43So that's not, but that's such a small portion of the revenue.
03:46Right now, the main thing is with Tesla is it's still a car company,
03:51but they're working on so many other things.
03:53And a Cybertruck is not going to be like,
03:55oh, the Cybertruck is going to move the needle.
03:57What's going to move the needle is if they can solve FSD.
03:59What's going to move the needle is if they get a humanoid
04:02that actually can do stuff.
04:04The energy business is interesting,
04:05but you know what else is going to eventually move the needle?
04:08It's the semi.
04:10The semi truck is very interesting.
04:12And I don't, I just wonder a bit predicting it here.
04:16I wonder a bit if there isn't something about the semi truck
04:20and full self-drive today.
04:22And if they come out with full self-drive
04:25again, that's not going to be ready.
04:26FSD is not ready.
04:28But if they're hinting that they're looking at,
04:31starting almost like a shipping company at Tesla where FSD semi,
04:37I think the stock could rally on that.
04:39And I do think that they've been,
04:41we know that PepsiCo has got a bunch of them.
04:43The semis are out there.
04:44They're obviously not FSD yet,
04:46but just imagine the possibilities.
04:49If you were to get a full self-drive semi,
04:52that is a game changer.
04:54And that is a needle mover.
04:56So if there's a hint of that coming,
04:59like, you know, and again,
05:00Musk's timelines are always too aggressive
05:03and we know it's probably going to be aggressive again.
05:05But if there is a hint of an FSD semi,
05:08that could be something the stock could rally on.