Tesla’s Cybercab Isn’t the Future of Travel — This Is

By most accounts, the unveiling of Tesla’s “Cybercab” — a fully automated robotaxi — was a massive disappointment. Tesla’s Cybercab Isn’t the Future of Travel — This Is [Wealth Daily] Jason Simpkins/ Oct 15, 2024 Tesla’s Cybercab Isn’t the Future of Travel — This Is By most accounts, the unveiling of Tesla’s “Cybercab” — a fully automated robo-taxi — was a massive disappointment. The carefully curated event Elon Musk intended to ignite excitement for his company, his latest product, and his long-term vision had the opposite effect. The Thursday night unveiling translated directly to a 10% stock dive for Tesla (NASDAQ: TSLA) on Friday. At the same time, it provided a boon for competitors Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT), as each company saw its shares shoot about 10% higher. One analyst even called the Cybercab event “toothless” and the “best-case outcome for Uber.” And again, that was the general consensus, because Elon Musk failed to provide any specifics about how much this endeavor will actually cost or how profitable it could be. He also declined to give details on potential regulatory issues or a timeline for delivery. Of course, as a showman, Musk threw out some rosy ballpark guesses. He said Cybercab production could start in 2026 and cost less than $30,000. Problem is, no one believes him. Nor should they. There is absolutely no indication that Musk’s vision for autonomous taxis is anywhere near coming to fruition. There are only mock-ups, artist renditions, flashy videos, and far-fetched promises and predictions. And all of them from a man who has seen his status as a genius and visionary business titan erode rapidly in just the past few years. Let’s be clear… Who Lost 4.3 Million Tons of Lithium? For more than 40 years, an oil company has been using brine to produce oil on its 671-square-mile property in northwestern Alberta. And for almost as long, it’s been known that this brine is abundant in a metal called lithium... the building block of today’s rechargeable batteries. At today’s prices, that estimated 4.3 million tons of lithium dissolved in these brine ponds is worth more than $320 billion. The problem is, until recently, nobody could effectively extract this lithium from the rest of the solution. It took a young tech company headed up by petrochemical industry veterans and an agreement with the oil producer, but today that massive lithium resource is about to go into commercial production. [You’re going to want to see this before the story progresses any further.]( Musk’s crypto (Dogecoin) schemes, his disastrous acquisition of Twitter, and his financial entwinement with the Trump campaign do not paint a portrait of a focused and skilled tech industrialist. They look more like the addled preoccupations of a bored billionaire. Nothing Musk says can be taken at face value. His credibility has been thoroughly shot through. And so his sci-fi Cybercab event crashed and burned. Just like that Tesla vehicle that exploded in France this past weekend. Now, Tesla remains an interesting stock. But it’s also an overvalued one. It always has been. The company’s car business is worth about $200 billion, yet the company’s market cap totals nearly $700 billion — even after $60 billion in value was erased in last week’s stock decline. Again, that’s nothing new for a stock that’s has a history of thriving amid its own hype, mystique, novelty, and potential growth. But if this latest event is any indication, the act is starting to wear thin. Additionally, EV sales have been tepid — even in China, which has struggled to resuscitate its once dominant economy. And competition from traditional auto companies is growing more fierce. [Exploit Congress’ New Law for Easy Money…]( Congress just passed a brand-new law. It’s an obscure provision in the Internal Revenue Code… Which allows in-the-know Americans to claim $7,882 every quarter — courtesy of the U.S. government. If your retirement nest egg is running on empty, then… [Click here to exploit this new law — 100% legal and ethically.]( Tesla’s profit is on track to decline for the second consecutive year this year — making it one of just 36 companies in the S&P 500 that’s seeing earnings decline. Prior to that, Tesla’s profit soared 80% in 2022 and 201% in 2021. Those are real numbers — something that was sorely lacking at last week’s event. The Cybercab didn’t win anyone over, that’s for sure. And that’s why analysts and investors are starting to wonder when Tesla is going to reverse course, or if it even can. However, if you want to actually profit from a revolution in ride-sharing and transportation, I have just the stock for you. I'm talking about an entirely new form of transportation that’s set to take the world by storm in 2025. And the company behind it is still so small and new, it’d be like buying Tesla in 2010 — back when the stock still had something to offer. We’re talking about potential returns of as much as 2,000%. So make sure to [check out my full report on that opportunity here.]( Fight on, [Jason Simpkins Signature] Jason Simpkins [Wealth Daily ICYMI Header]( Iran's Missile Strike Sends Oil Prices Soaring — The #1 Oil Play for WWIII Oil prices are skyrocketing in the wake of Iran's major missile attack on Israel. [headline] And experts warn that this is just the beginning. Forbes predicts that escalating global conflicts could drive oil to $200 a barrel! While big oil stocks like Exxon are already profiting from this spike in oil prices, there’s a FAR more lucrative opportunity for investors. A small Texas company has just introduced a brand-new drilling method called the "Horseshoe Well." And it’s poised to make the fracking boom look like child’s play. The Journal of Petroleum Technology calls it "a well design unlike anything most in the shale sector have seen before." And it could mint a new wave of oil and gas millionaires. [Click here for the full details.]( [Feedback? get in touch](mailto:/newsletter@wealthdaily.com?subject=Wealth%20Daily%20feedback) [Read this email online]( [Manage Newsletters]( [Share on Twitter]( You signed up for our newsletter with the email {EMAIL}. You can manage your subscription and get our privacy policy [here](. This email is from Angel Publishing, 3 East Read Street, Baltimore, MD 21202 © Wealth Daily.