Tesla’s robotaxis show why the EV trade is ‘tricky’: Analyst

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Tesla’s robotaxis show why the EV trade is ‘tricky’: Analyst

Tesla (TSLA) finally unveiled its autonomous vehicles at its highly-anticipated robotaxi event Thursday evening. Katy Kaminski, AlphaSimplex chief research strategist and portfolio manager, joins Wealth! to discuss how investors can best navigate the EV trade.

“I think the EV trade is a tricky one. It’s exciting because anytime you have a disrupter of that type that is going to go in and potentially disrupt a business model that exists already, there’s a lot of uncertainty about that type of event,” Kaminski tells Yahoo Finance. She notes that there was a sell-off in Tesla’s stock after the event while names like Uber (UBER) and Lyft (LYFT) were up.

She explains, “What I would think that means is that this is an exciting idea. We need to watch it. But we also have a lot of things have to be figured out for this to come to fruition. So I think it’s really a trade you’ll have to watch and actually see how can we how can they navigate the regulation front, how can they handle some of those issues that disrupting this industry would require.”

While the EV market has been under pressure, Kaminski highlights that inflation has been weighing on consumers and many have put their plans to purchase cars on hold. She argues that Tesla’s robotaxis could benefit from this environment, saying, “if vehicles continue to be more expensive, people are going to have to find alternatives. And that’s where this could be a good trade.”

To watch more expert insights and analysis on the latest market action, check out more Wealth here.

This post was written by Melanie Riehl

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