From Nasdaq: 2024-11-19 08:00:00

1. Tesla shares surged over 5% to $338.74 as reports suggest Trump’s team prioritizes federal AV regulations, potentially benefitting Tesla’s AV business with robotaxis accounting for 44% of its valuation.
2. RBC Capital analyst Tom Narayan sees federal deregulation supporting Tesla’s Level 4 autonomy goals and transforming AVs into multi-purpose spaces, despite challenges for Tesla’s camera-based FSD system.
3. Tesla aims for Cybercab production by 2026, targeting 2 million units annually and planning to debut in ride-hailing services next year in Texas and California.
4. Uber and Lyft shares dropped following reports of Trump easing self-driving rules, with Tesla’s robotaxi network posing a challenge to Uber’s market dominance.
5. Uber and Lyft are advancing in the robotaxi space, with Tesla owners potentially listing vehicles on a Tesla-operated ride-hailing app, impacting ETFs like XLY and ARKQ while IYT fell.
6. Various ETFs like XLY, ARKQ, and IYT were impacted by the news, with Tesla-heavy ETFs advancing while Uber-heavy funds fell. The impact of Trump’s potential AV deregulation on the market is significant.

Read more at Nasdaq: Tesla Stock Pops 5% on AV Deregulation Buzz: ETFs in Focus