Tesla Inc (NASDAQ:TSLA)'s highly anticipated Robotaxi Day event has reportedly been postponed from August 8th to October, according to Bloomberg News.
The delay caused Tesla stock to drop over 6% on Thursday afternoon.
However, analysts at Wedbush Securities are maintaining a bullish outlook on the company's long-term prospects.
"While the knee jerk reaction will clearly be negative on a delay of August 8th based on this report, we believe the timing of robotaxis, partnerships, and the ultimate autonomous and AI driven technology does not change at all for our bullish Tesla thesis,” Wedbush’s Dan Ives wrote in a research comment.
Ives further suggested that the delay could potentially enhance the event, noting, "To some extent, we believe this two-month delay could just make the actual Robotaxi event and prototypes even better and more eye popping for Tesla.”
Despite the setback, Wedbush maintains its ‘Outperform’ rating on Tesla stock with a price target of $300.
Ives emphasized the importance of the Robotaxi event. "Musk and the team know this unlocks the key to the long-term future of the Tesla story and investors want more details...not less at this historic event.”