Carter Braxton Worth, a renowned Wall Street technical analyst and the founder and CEO of Worth Charting LLC, threw shade on Tesla Inc‘s TSLA Cybertruck design ahead of its official delivery event this week.
What Happened: During an appearance on CNBC, Worth commented on the Cybertruck, stating, “I think it’s cool until one day you walk in your garage and go ‘my god that thing’s ugly’ and you never drive it again.”
Joined by two other analysts on the show, one compared the Cybertruck to the “Apple Newton” of EV launches, referring to the unsuccessful handheld personal digital assistant by Apple Inc.
Discussing Tesla’s stock performance, Worth mentioned, “It is at the same level it was three years ago, a lot of volatility but it’s not really progressing.”
Past Critiques: Worth is not the only one to criticize the all-electric Cybertruck’s aesthetics. Others, including “Shark Tank” investor Kevin O'Leary and renowned automobile designer Frank Stephenson, have expressed similar opinions.
Rival CEOs also hold differing views. While Ford CEO Jim Farley has dismissed the Cybertruck as a “cool high-end product parked in front of a hotel” and not for “real people who do real work”, Rivian CEO RJ Scaringe has applauded it, saying "I think it’s great that a product like that exists in the world."
Divided Analysts: Gary Black from Future Fund is optimistic, calling the Cybertruck the “biggest people magnet” and predicting a positive impact on Tesla's volume growth, similar to the Model Y’s effect in 2020.
Ark Investment Management CEO Cathie Wood is among Tesla investors eagerly anticipating the Cybertruck launch.
“We think Cybertruck is going to expand the truck market, just like the Model 3 has expanded its category,” Wood told Benzinga in an episode of “The Raz Report.”
The first deliveries of the Cybertruck are scheduled for Nov. 30 at Tesla’s Gigafactory in Texas, as confirmed by CEO Elon Musk on X.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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