Bullish views on Telsa's autonomous vehicle plans are 'completely reckless,' analyst says

Craig Owen is a senior research analyst at Roth MKM, joining us with his take on things. Firstly, your reaction, Craig, to that 2600 prize target. Oh my gosh, You know, I, I first met Tasha, I think about seven years ago. She was making hyperbolic statements about robo taxis being one or two years away back then. You know, nothing's really changed the compute. The energy costs on the compute is equivalent basically to the drivetrain energy to to drive the vehicle. So it's a non starter. I mean, if you're going to burn just as many electrons for the compute, if you can get level 4 to work, come on. It's just it's it's a non starter. There are some really big, big things that need to happen between here and there. You know that the pitch back then was, hey, it's going to be an over the air software update for the entire Tesla fleet and you'll be able to send your car out at night to go and make you money as a taxi. It's hyperbolic. It it, it, it, it really I think is is, you know, borderline reckless. I mean, actually completely reckless. So that just, you know, I, I don't obviously it's one analyst versus the other, so I won't go deeper into that, but but I do want to get your, no, I, I appreciate your view. The stock price is telling us something, right? We are in 2024. This is a price target from a 2029 perspective. The stock price is telling us something. It's down 26% year to date yesterday in the regular session was up 2 1/2 percent pared back those gains in the after hours. So its flattish in the after hours. If he could bring up that chart for our viewers that board. Well, I mean, was it was it really a situation of one day and done and the market just moves on or is the market really latching on to this news in a big way? Whether whether its the voters conviction behind Elon Musk and his commitment to Tesla amid all the other things that he's doing plus the so Musk, you know the Musk is Tesla, right reincorporation. Sorry, yeah, no, so Elon Musk is Tesla, right And the pay package it was, you know, fair to expect that to absolutely be reapproved by shareholders. They approved in 18. The man took the company from 50 billion to a trillion plus, you know, created a tremendous amount of value for investors, you know, and it's fair to expect them to reward him. They agreed to reward him and they agreed again today. That makes sense to me. The ring corporation in Texas, hey, it's not a surprise. I think Delaware went the wrong way for him. You know, Hey, good, good thing for for Texas and the future capital markets in Texas going forward. You know that the key things out of the out of the meeting actually were that, you know, the Tesla semi is actually going to going to start in production. They're going to start delivering more of those. And that's been pushed for years and years at this point. So that's the the one material positive out of the meeting. Everything else is just window dressing. It's like, you know, cheerleading for, you know, autonomous humanoid robots by the end of 25. And you know, that, that, that, that doesn't sound very credible to me. And then obviously, no Adas and robo taxis, which are really going to be cyber taxis of the the word is it's going to be a lot more like the cyber truck when we get to see it on 8/8. It's just it's Musk and it is traditional hyperbole playing to the retail base. And Tesla's a retail darling. So you know, he he sings that song well.