Tesla (TSLA) added about $80 billion to its market cap after beating earnings-per-share estimates and announcing it expects to roll out autonomous ride-hailing in California and Texas in 2025.

The news sent shares of ride-hailing apps Uber (UBER) and Lyft (LYFT) under pressure, and Morning Brief Hosts Seana Smith and Madison Mills discuss how ride-sharing competition is heating up.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Melanie Riehl