Uber (UBER) shares rose on Friday after Tesla’s (TSLA) robotaxi event largely disappointed investors. Thomas Martin, Senior Portfolio Manager at GLOBALT Investments, joins Market Domination Overtime to talk about the competition between the two and why Uber benefited from the event.

“Both Tesla stock and Uber reacted as one would have expected given Tesla’s Robo Day. It was a classic example of long-termism versus short-termism. And at Uber and at Tesla the opposite was the case,” says Martin the movement.

He tells Yahoo Finance: “If Tesla was able to solve automated vehicles and robo in the near future, or even saw a roadmap in the medium term, then that may have been a problem for Uber in the longer term. But the devil is in the details.” “

As investors were looking for more insights and more information about the robotaxis launch, Uber became more attractive to investors. Therefore, if Tesla cannot meet the expected timelines for releasing its robot taxis, Uber will have more time to stay ahead of the competition.

To see more expert insights and analysis on the latest market activity, check out more Market Domination Overtime here.

This article was written by Melanie Riehl