Tesla exec., Joby Aviation, Uber & Baidu: Trending Tickers

00:00 Julie Hyman

Now, time for some of today’s Trending Tickers. We are watching Tesla, Joby Aviation and Uber. First up, Tesla’s seeing another high-level departure, according to The Wall Street Journal. The company’s top sales executive for North America has left the company after spending the last 15 years there. Troy Jones’ departure coming as Tesla faces a steep drop in sales amid Elon Musk’s prominent role in the White House. Uh, Brooke DePalma is still here. And Brooke, um, we’ve seen a number of departures from Tesla this year as we have seen the those sales drop and Elon Musk’s attentions be divided.

00:57 Brooke DePalma

Yeah, Julie, a number of departures, including the top AIDS, Chief to CEO Elon Musk, who was promoted less than a year ago and then ultimately left the company as well. We also know the company’s director of human resources had departed back in June. And if you take a look at Tesla’s stock price, what we’ve seen over the past year is the company down third more than 30%, 34% from a record high close back in December of 2024, specifically December 17th, when the company’s stock hit $479.86. Of course, that was right after the election. There was lots of momentum for Tesla as well as the larger EV space. Now we’re seeing the stock trade at $314, down significantly from that record close as investors really try to digest all these executives leaving as well as where Elon Musk stands now and where Tesla sales certainly are.

02:27 Julie Hyman

Yeah, definitely a lot of questions about what is next for that company. Um, coming up next, we’ve got air taxi maker, Joby. It’s doubling its main plant’s output capacity. The move coming just weeks after completing its piloted test flights in Dubai. The expansion will enable the facility to build up to 24 aircraft per year. That’s according to a company statement. Joby shares today up 7%. They’re up this year. I remember this company was a SPAC. I don’t know if you remember, Brooke, but it was one of these companies that came public through a special purpose acquisition company, exactly. 2020-2021, I think is when it was completed. And so it’s trading, like what, $3 above that $10 start price?

03:53 Brooke DePalma

Yeah, believe it or not, Julie. What I’m seeing here is 1366. That was actually a 52-week high for the company. Of course, now shares pulling back about 10 cents. Now the stock is at $13.5455. And what we’re really looking at here is once again, this was part of a SPAC merger. There is not too much coverage on the street. It hasn’t largely been adopted by the street. Only nine analysts cover the stock, and right now, ratings are three buys, four holds, and two sells. In addition to that, I know that you noted, but all eyes are also on the launch of commercial operations in Dubai as early as 2026. And there’s some hesitation there. In a JP Morgan note out recently, they said they have incremental confidence around the probability of a successful launch last year, but they ultimately expect low volume based upon that launch and potential customers. Well, they have to see how it goes before they jump in and take a ride as well.

05:28 Julie Hyman

And finally, let’s talk about Uber and China’s Baidu. They’re teaming up. The company plans, companies plan to launch robo taxis on the ride-sharing platform in several markets outside of the US and mainland China through a multi-year partnership. Baidu’s autonomous vehicles will be available on the Uber app in Asia and the Middle East later this year. Uber shares pulling back a little bit today. Baidu shares getting a big lift of about 8%. And this sort of continuing, Brooke, with Uber strategy of partnering with others when it comes to sort of autonomous driving, not not owning the sort of asset light model, if you will.

06:40 Brooke DePalma

Yeah, the CEO saying this morning that Uber is uniquely positioned to help AV leaders or EV leaders like Baidu bring their autonomous technology to the world, and not necessarily doing it in-house, but really relying on these key partners in order to make this happen. I mean, Julie, I still have yet to see, you know, beyond Google’s Waymo, when Phoenix, Arizona. I’ve yet to see all these different players come to fruition, but it’s interesting to see Uber continually outsource. Of course, Tesla got a bit of a rise in the stock in the last month in late June after they rolled out their autonomous vehicles and tested it with key influencers. That got a bit of a rally there from investors, but it’s interesting to see them sort of push out the business as far as Uber’s go, rely on other partners. Of course, Baidu, they team up with, I think, something like 15,000 cities that they’re in. And so it’ll be interesting to see the way that this all plays out. Of course, Uber looking to really grow their presence here, not only as what many know them as, as the, you know, car, vehicle, whatever you want to call it, renting to jump in and call a ride or ride hall service, but also Uber Eats they have, and now they’re looking not to fall behind with this autonomous vehicle race as well.

08:57 Julie Hyman

Yeah, exactly. Thanks so much, Brooke. You can scan the QR code below to track the best and worst performing stocks with Yahoo Finances’ Trending Tickers page.

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