Following the launch of ChatGPT, the text-based artificial intelligence (AI) chatbot by OpenAI, more platforms have emerged, and the technology has already proven its use in analyzing the trends in various markets, including the stock price of Tesla (NASDAQ: TSLA).
Indeed, Finbold has consulted ChatGPT for insights as millions of people await the delivery event for Tesla’s Cybertruck that is supposed to take place in September, as announced by Tesla CEO Elon Musk, who back in April said that the “Cybertruck handover [would] hopefully be around the end of Q3 this year.”
Impact on TSLA price
Although ChatGPT refused to give any specific figures, it did stress that the launch of the Cybertruck could have a positive effect on the TSLA price, particularly in regard to the short-term hype, which is commonly responsible for bringing up stock prices shortly after the influential event.
As the AI chatbot noted:
“This could be driven by increased media coverage, heightened interest from investors, and overall excitement surrounding the event. Depending on the level of hype and speculation, the stock price might experience a moderate to significant short-term increase.”
That said, ChatGPT has also highlighted that the impact of the Cybertruck on Tesla’s stock price over the longer term would depend on its actual sales performance and contribution to the electric vehicle (EV) manufacturer’s revenue:
“If the Cybertruck proves to be a best-seller and significantly boosts Tesla’s bottom line, it could have a positive impact on the stock price over time. Conversely, if sales disappoint, it could lead to concerns among investors.”
As the bot also correctly observed, the Cybertruck could help Tesla gain a stronger foothold in segments like pickup trucks, which might lead to a “more favorable long-term outlook for the company, potentially impacting the stock price positively.”
TSLA stock price analysis
As things stand, the price of the TSLA stock at press time was at $241.51, which indicates an increase of 0.84% on the day but declining 5.78% across the previous seven days, although its monthly chart is witnessing a 1.65% gain, according to the latest information retrieved on September 28.
Meanwhile, Tesla’s stock has exhibited notable volatility, having surged by an impressive $136.78, equating to a remarkable 126.53% increase year-to-date. All things considered, the handover of Tesla’s highly anticipated Cybertruck could, indeed, help push its price upward, but just how much this increase will also depend on a multitude of other factors in the market.
Featured image is courtesy of Tesla, Inc.
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Source: https://finbold.com/chatgpt-predicts-tesla-stock-price-after-cybertruck-launch/