Watching GM, Alphabet, Lyft, Uber shares as Robotaxis gets 24/7 green light in San Fran
San Francisco has supercharged the driverless car sector by allowing Waymo and Cruise to operate vehicles commercially in the city 24/7. IGTV financial analyst @AngelineOng looks at the impact on AI and competitors Uber and Lyft.
(Video Transcript)
Robotaxis take on San Fran
California is now the epicentre of the self-driving car industry. Soon anyone in San Francisco can hail a driverless car with a few taps of a phone 24/7.
Following a contentious state agency vote, Alphabet's Waymo and GM's Cruze are now allowed to take paying passengers day or night in the city.
Now the California Public Utilities Commission sided with the companies that I just mentioned in the face of vigorous opposition from some residents and city agencies.
All Sessions stock up
Just looking at these shares, because they are All Sessions. Alphabet there, looking like this in All Sessions on the IG platform, down slightly. And also checking in on General Motors as well, another All Sessions stock here at the IG, up about a third of a percent.
Now the outcome of the vote meant that robotaxis can now operate 24/7 in San Francisco.
And just to update you about what happened during the vote, those who opposed and voiced concerns about safety... those who were in favour, said they felt that driverless cars were safer than humans and would boost the local economy in San Francisco.
Driverless cars seen to be safer
Those in favour of the expansion included technologists and residents who said they felt the cars offer a safer alternative to human drivers and would be a boost.
This vote changes everything, from those who stand to gain and take the next steps towards turning those billions spent chasing a tech and driverless dream to those in AI who supports this tech.
And of course, those who are affected, let's take a look at Uber and Lyft Inc, because Uber, another All Sessions stock, and also Lyft are still offering ride-hailing services with humans in the driver's seat.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
