Tesla Investor Touts EV Giant's Billions-Mile Leap In Gathering Self-Driving Data: 'How Can Any Automaker Catch Up?'
Portfolio Pulse from Benzinga Neuro
Tesla investor Sawyer Merritt highlighted on CNBC's 'Last Call' the significant lead Tesla has in data collection for self-driving technology, with Tesla owners now driving 1 billion miles every 68 days using Full-Self Driving (FSD), a 250% increase from three months ago. Despite a 9% year-on-year decrease in Q1 revenue, Tesla's stock surged 12% after the earnings report, buoyed by positive investor sentiment towards its future plans and an upgrade from Bank of America from Neutral to Buy. Tesla's stock closed at $170.18, up 4.97%.
April 26, 2024 | 5:39 am
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POSITIVE IMPACT
Tesla's significant lead in self-driving data collection and a 250% increase in miles driven using FSD, coupled with a strong stock performance post-Q1 earnings and an upgrade from Bank of America, highlight a positive outlook for Tesla.
Tesla's advanced data collection capabilities for self-driving technology position it as a leader in the EV market, attracting investor confidence despite a revenue dip in Q1. The stock's surge and the upgrade from Bank of America reflect strong market sentiment and potential for future growth, making it likely that Tesla's stock will continue to perform well in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100