TSLA (TSLA - Free Report) fell over 6% following Elon’s awkward debut of the Tesla Cyber Truck, which ended in a few broken windows and ostensibly broken promises. Telsa’s new truck is taking an enormous style risk appearing to have come straight out of an 80s Syfy movie.
Critics had a field day after this event relating the design of this vehicle to one that a child drew on MacPaint (AAPL - Free Report) in the 90s. This gave TSLA short-sellers a new reason to get excited about betting against this highly volatile stock.
Despite the Tesla haters, I think that this design risk may pay off. The Cyber Truck has already racked up roughly 200,000 orders as of the beginning of this week. It seems that Elon Musk can do no wrong with his loyal cohorts.
The specs of this new vehicle are something to marvel at, and the most impressive part about this vehicle is its battery technology. Not only can this truck overpower an F150 (F - Free Report) , but it will boast the longest-range EV on the market.
The Cyber Truck will be able to accelerate from 0-60 in 2.9 seconds and contains a battery with a range of up to 500 miles. This will outpace its own Tesla S, which can run as many as 335 miles on one charge (the longest range EV on the market).
Tesla continues to stay ahead of the innovation curve, and the Cyber Truck release proves its willingness to take pioneering risks. Tesla stock has rallied 85% since the beginning of June as more positive news and sentiment come out of this fast-moving company.
TSLA is still roughly 15% off its all-time highs, and with its momentum in the second half of the year, I think we can blow past those highs.
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