Investor Cathie Wood of ARK Invest has hailed the Tesla Inc. (NASDAQ:TSLA) Model S following its sunset for kicking off a “revolution” led by Elon Musk in the artificial intelligence, outer space exploration and robotics sectors.
Little Did We Know
Wood, on Thursday, quoted a post on X that showed Tesla Board member Ira Ehrenpreis recreating a moment from the Tesla Model S launch in 2012.
“Little did we know in 2012 that Tesla's Model S would lead not only to an energy storage revolution but also to the convergence of robotics, AI, and space exploration,” Wood said.
She also outlined Musk and SpaceX’s push towards lunar and Mars exploration endeavors. “Always grateful to @elonmusk, and to @IraEhrenpreis who has been by his side,” she said.
Tesla Model S, X Sunset
Tesla officially ended production of the premium Model S and X lines in April, with Musk hailing the event as the “ending of an era” for the automaker. Tesla ended the production of the models to shift its focus towards the Optimus humanoid robot, which would be produced at the Fremont facility in California.
SpaceX IPO, $28.5 Trillion Opportunity
Meanwhile, SpaceX and Musk are looking towards the future as the company gears up for its IPO next month, when the company’s shares will be traded on the Nasdaq under the ticker SPCX, targeting a $1.75 trillion valuation.
SpaceX also revealed a potential $28.5 trillion total addressable market (TAM) for the commercial space flight giant in its latest filings, with artificial intelligence comprising the biggest opportunity at over $26.5 trillion for SpaceX.
Possible Impact On TSLA?
Experts have warned that the IPO could negatively impact Tesla shares as Musk’s focus could pivot away from the EV giant and onto SpaceX. Some experts also advocated for SpaceX and Tesla to merge, with investor Dan Ives outlining an 80% chance of a merger between the two Musk-led companies to take place.
Benzinga Edge Rankings show that Tesla scores well on the Growth and Quality metrics and offers a favorable price trend in the Long Term.
Price Action: Tesla shares were up 0.43% at $419.66 during the overnight trading session after market close on Thursday.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo courtesy: Shutterstock.com
Login to comment