Yahoo Finance’s Julie Hyman and Brian Sozzi talk about Tesla’s Cybertruck delay till 2023 and the way dogecoin is surging after Elon Musk begins accepting the crypto for some merchandise.
JULIE HYMAN: Welcome again to Yahoo Finance Live. Want to carry you some different movers that we’re watching this morning moreover in fact, The Big Bang. Got to discuss Tesla right here for a second on two fronts. Let’s begin with the Cybertruck, lets, as a result of the corporate apparently has pushed again manufacturing of the Cybertruck to the primary quarter of 2023. This is in accordance to a report by Reuters.
The Cybertruck is already one thing of a punch line, Brian Sozzi, as a result of when it was introduced–
BRIAN SOZZI: Yes.
JULIE HYMAN: –Let’s say there have been some issues with even the demo model of the factor. And we’re seeing loads of different truck makers come out and truly produce electrical vehicles. So that is perhaps one other velocity bump for Tesla.
BRIAN SOZZI: No, I noticed what you probably did there, Julie. No, I’m really beginning to suppose that perhaps the Cybertruck simply does not even come to market, and we simply noticed a few prototypes created by Tesla and Elon Musk to drive pleasure across the firm’s automobile portfolio, which clearly, they do a heck of quite a bit higher getting automobiles out the gate than these massive vehicles which are actually formed like big squares or cubes happening the street. And if it does come to market, and when it does, ought to it come to market, what does it even appear like? I feel the group over at Tesla remains to be making an attempt to get the design proper, to the purpose the place they will make these vehicles and truly generate income off it. And now, as they’re making an attempt to determine these items out, you may have Ford popping out right here, pumping out electrical F-150s, all electrical, at some level this 12 months, and actually, beginning to set up a market.
JULIE HYMAN: Yeah, and you’ve got Rivian making vehicles. Yeah, they’re making fewer than they’d initially hoped to, however they’re really making and promoting them. So that is two within the column versus Tesla with none. Of course one thing that Tesla’s Elon Musk is superb at producing is tweets, and he produced one other winner final evening, the place he mentioned that the corporate can be accepting Dogecoin for its merchandise– not the automobiles itself, I do not consider, however identical to gear schwag round Tesla, proper. This is one thing the corporate had teased earlier than, however I assume it is really doing it now. And so we’re seeing a bump in costs of Doge on that headline.
BRIAN SOZZI: I feel you noticed slightly Elon Musk making an attempt to flex to begin off of the 12 months. We’ve seen loads of weak spot in cryptocurrencies the previous month and a half. So it might be Elon making an attempt to, I feel, remind loads of of us on the market that he’s a market mover in all issues crypto, popping out right here, and tweeting what he did on Dogecoin– Dogecoin reacting positively. But we had been joking slightly bit about this in our Slack channels, Julie, this morning. I’m over these tweets from Elon Musk. I simply need to concentrate on the Tesla enterprise, making an attempt to prime actually what was a powerful 2021 for him. You have to give a tip of the hat to Elon Musk and what they achieved final 12 months.
JULIE HYMAN: Yes for certain. So we’ll see if he will get the pinnacle down, and will get that Cybertruck rolling.