Shares of Uber Technologies jumped to a record high on Friday after Tesla’s much-anticipated robotaxi launch event failed to live up to ride-sharing investors' fears.

The stocks of ride-hailing app companies Uber (UBER) and Lyft (LYFT) both jumped Friday while Tesla stock took a hit, following the EV maker’s long-awaited robotaxi reveal.

Jefferies ( JEF) analysts called Tesla’s $30,000 robotaxi, dubbed the Cybercab, a “toothless taxi” in a note to investors Friday morning, adding that Tesla has “ambitious targets" with “little evidence of feasibility.” “We believe TSLA potentially underappreciates the obstacles to scaling a robotaxi fleet,” they wrote.