Yahoo Finance Live's Julie Hyman discusses the top takeaways from Tesla's 2023 shareholder meeting including Tesla CEO Elon Musk's promise to deliver Cybertrucks this year.
JULIE HYMAN: Tesla shares are higher in early trade. We've now got about 15 minutes to go until the opening bell. And we've got really three takeaways from the EV maker's annual shareholder meeting in Austin, Texas, and also, of course, Musk speaking to CNBC.
One, Elon Musk is renewing his vows to Tesla, dispelling rumors that he's going to leave the company, saying he is indeed staying on as CEO. And this comes, remember, after Musk welcomed a new Twitter CEO, NBCU's former advertising chief Linda Yaccarino. He talked again about her strengths in the Twitter role as well.
At the meeting, Musk referred to Twitter as a short-term distraction and says the platform is now, quote, "stable." But he also said he's still going to keep on tweeting a lot, it sounds like. Next up, Musk says Tesla will try a little advertising. That is a big departure for a company that has normally bucked traditional advertising and really relied on word of mouth in order to sell product.
And finally, the news that many investors are waiting for Musk says that Tesla is going to deliver its first cybertrucks this year. We're going to have to debate all things cybertrucks, I guess.