Klaudia Radecka | Nurphoto | Getty ImagesTesla 's hyped robotaxi unveiling posed a threat to Uber 's ride-sharing aspirations, but it has turned into a boon for the stock instead.
That is a massive turnaround for Uber's stock, which is now up nearly 22% over the past month and about 38% for the year.
"We believe this helps minimize the ongoing overhang on UBER's stock from TSLA's aspirations in the robotaxi space."
Although Tesla appears committed to developing its robotaxi fleet without partnering with existing ride-sharing platforms, Colantuoni expects it could ultimately have to look into this option.
Tesla "potentially underappreciates the obstacles to scaling a robotaxi fleet" and could struggle to scale its fleet operations without offering access to demand through Uber and Lyft, he said.
Persons:
Klaudia, Tesla, Uber, Jefferies, John Colantuoni, TSLA, Colantuoni, Scott Brauer
Organizations:
Nurphoto, Lyft, Nasdaq, Jefferies, Tesla, Bloomberg, Getty
Locations:
Krakow, Poland, Seattle , Washington