To boost Tesla’s (NASDAQ: TSLA) fluctuating and often weak stock performance in 2024, Elon Musk announced the launch of Robotaxi on August 8. This fully autonomous self-driving vehicle is designed primarily for use in taxi services.
There is growing sentiment in the market that Tesla is losing its innovation edge and struggling in the competitive electric vehicle (EV) market, which makes its prospects appear uncertain. Elon Musk is looking to leverage advancements in AI to bolster Tesla’s current performance, which has driven multiple stock rallies in the past year.
The impact of the Robotaxi unveiling on August 8 remains speculative. Some see it as a potential catalyst for growth, while others are skeptical about its ability to shift the balance in Tesla’s favor significantly.
To assess the potential impact of the Robotaxi launch on Tesla’s stock price, Finbold utilized OpenAI’s latest ChatGPT-4o, a top-of-the-line upgrade to the popular chatbot, to provide insights into how this event might influence TSLA’s market performance.
ChatGPT-4o sees potential in the Robotaxi
With the potential for deepened AI utilization and a level of autonomy driving not seen before, ChatGPT-4o sees Robotaxi’s unveiling as an important upcoming event.
The expectations for the most likely scenario are a 15% to 25% addition to the current TSLA stock price of $179.24.
If there is a significant technological breakthrough that the market has not witnessed before, a highly bullish scenario might occur, sending TSLA stock soaring by 30% to 50%.
A positive market reaction would give TSLA stock the boost it desperately needs. It has been trading in the red by 27% since 2024 started, way down from its $400 all-time high in 2021.
However, in the case of the TSLA stock bearish scenario…
Taking a more pessimistic approach, ChatGPT-4o presented us with a scenario in which Robotaxi is just a glorified market stunt without any innovation or industry-changing development.
Such an event would negatively influence TSLA stock, which could see a drawback from 10% to 20%, sending TSLA shares below the $150 threshold.
However, the worst-case scenario would be if the Robotaxi debut fails to materialize and Elon Musk continues his trend of unmet commitments regarding self-driving technology. In this scenario, Tesla’s stock could suffer.
This outcome might signal doubt about Tesla’s future capabilities and its standing as a tech leader in the automotive sector, potentially prompting a cautious or negative response from investors.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
