Musk’s Interview Was Positive for TSLA Stock, Well-Known Investor Says

After Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk was interviewed extensively on CNBC recently, well-known investor Joe Terranova asserted that Musk’s cautious statements about the rollout of its robotaxis should be “comforting to (Tesla’s) shareholders.”

Additionally, Tesla will be seen as more of a “technology company” and less of an automaker in the wake of the interview, Terranova contended.

A frequent guest on CNBC, Terranova is a senior managing director of Virtus Investment.

Musk’s “Comforting” Statements About Robotaxis

Terranova reacted favorably to Musk’s statement that Tesla, Inc. (NASDAQ:TSLA) would be “extremely paranoid” regarding its rollout of robotaxis in Ausin in June.

Noting that the taxis would be supervised by remote employees and that the robotaxis would only operate in certain parts of Austin, Terranova said, “I think that’s the right approach.”

He added that the automaker’s shareholders should “feel good about the strategy.”

Terranova Responds to Pushback

The prominent investor was asked by CNBC host Scott Wapner whether Tesla’s cautious approach to robotaxis would hinder its ability to compete with Alphabet’s (GOOG) Waymo.

Terranova said that Wapner’s question was “not wrong.”

But the investor added that “I don’t think in the near term (the competition with Waymo) really affects the price as much as (Musk’s statements about Tesla’s cautious approach to robotaxis), which were comforting.”

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Disclosure: None. This article is originally published at Insider Monkey.