CNBC
Jim Cramer talks Tesla's 'disappointing' robotaxi event
Technology
Economy
'Mad Money' host Jim Cramer breaks down why the market wasn't impressed by the Tesla robotaxi event.
2024-10-12 09:00:10
Business
Transportation
Automotive
Rideshare Resilience Amid Tesla's Robotaxi Reveal
Following Tesla's recent robotaxi presentation, shares of Uber and Lyft experienced a notable uptick. Investors reacted to Musk's announcement of potential Cybercab production by 2026, yet were left wanting a clearer business strategy.
Despite Lyft's aspirations, it faces significant challenges in catching up to Uber's commanding 76% market share. Uber's robust financial health, bolstered by diverse offerings beyond ridesharing, positions it favorably for future growth.
With $6 billion in cash reserves and plans for international expansion, Uber is poised to maintain its dominance. The market's lukewarm response to Tesla's event underscores the high expectations for innovation in this competitive landscape.
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Yahoo!
It's going to be 'very tough' for Lyft to catch Uber. Here's why.
Economy
Finance
Technology
Uber dominates the rideshare market with a 76% share, while Lyft lags at 23%. Uber's diversified business model, including food delivery, has helped it weather the pandemic. Uber is in a strong financial position, with $6 billion in cash, $1.7 billion in free cash flow, and a $7 billion share buyback authorization. Uber is also exploring international expansion, which could further solidify its market leadership.
kursiv
Uber and Lyft stocks soar after Tesla's 'toothless' robotaxi presentation
Economy
Technology
Finance
Uber and Lyft shares rose after Tesla's presentation, where Musk revealed that Cybercab robotaxi production could start in 2026 and cost 'less than $30,000'; investors are disappointed by the lack of a specific business plan and information about new electric vehicles.
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