Tesla’s latest robotaxi launch in Austin has captured attention, despite a 20% drop in shares over six months. With a premium price of 11.5 times sales, Tesla faces competition from Rivian Automotive and Lucid Group. Analysts like Cathie Wood predict Tesla’s share price could hit $2,600 in five years, driven by the robotaxi opportunity.

Wood and other analysts believe the robotaxi market could add $1 trillion to Tesla’s market cap by 2026. Tesla’s advantages include brand recognition and access to capital, making it a long-term buy for those bullish on the robotaxi opportunity. Tesla owners remain loyal despite recent challenges.

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Disclaimer: Ryan Vanzo does not hold positions in mentioned stocks. The Motley Fool recommends and has positions in Tesla. The “Double Down” opportunity article was originally published by The Motley Fool.

Read more at Yahoo Finance: This Opportunity Could Spell Huge Success for Tesla