Announcement On Tesla Robo Taxis Ahead – Opportunities For Investors

Tesla Inc. Robotaxis

After the close on Friday, Musk tweeted “Tesla TSLA Robotaxi unveil on 8/8.”  Musk did not provide any clarification or details. Musk is known for cryptic tweets.

He often sets aggressive targets that are often late by years.  Based on Musk's history, even if he unveils Tesla Robotaxis in August, robotaxis may not become commonplace for a long time.

Regulatory Issues

Robotaxis are not entirely in Musk's hands. There are serious regulatory issues. The government often lags behind technology.

Impact On UBER 

Uber Technologies Inc UBER used to have its own robotaxi division, but after spending hundreds of millions of dollars, Uber closed it.  Even the specter of Tesla Robotaxis coming can have a negative impact on UBER stock unless Uber teams up with Tesla or another robotaxi provider.

As a disclosure, UBER is in the Core ZYX Buy Model Portfolio long from $25.58.

TSLA Opportunity

Robotaxis, if they are close, will reverse the downward momentum in TSLA stock and provide an opportunity to buy TSLA stock. 

Prudent Course Of Action For UBER Stock

Since there are such nice profits in UBER stock long from $25.58, it is prudent to take small partial profits in UBER.

The long term target for UBER is $107 - $116.

Consider holding the rest of the UBER position. 

Other Opportunities

Robotaxis will provide opportunities on both the long and short side in many other companies. 

AI Stocks

Robotaxis will have an impact on popular AI stocks such as NVIDIA Corp NVDAAdvanced Micro Devices, Inc. AMD, Alphabet Inc Class C GOOGAlphabet Inc Class A GOOGLArm Holdings PLC - ADR ARM, Taiwan Semiconductor Mfg. Co. Ltd. TSM, Applied Materials, Inc. AMATASML Holding NV ASML, and Micron Technology Inc MU.

What To Do Now

Those in UBER stock may consider taking partial profits.

Those not in UBER stock may consider waiting for a dip in the buy zone.

Those interested in TSLA stock may stay tuned.

The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever Generate Wealth Newsletter.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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