Tesla is soaring on successful robotaxi launch
Tesla’s stock is currently surging more than 9% this morning and leading the S&P 500, after what was by most accounts a successful robotaxi launch this weekend.
Though way smaller and more restricted than what normal people would consider autonomous driving, no one got hurt, and that’s very good news for Tesla, which opened up the app in Austin to about 20 or so pro-Tesla influencers who broadcast their rides.
After taking a couple of rides in the robotaxis yesterday, Wedbush Securities analyst and Tesla bull Dan Ives reiterated his belief that the service could add another $1 trillion to the company’s $1 trillion market cap. “Overall, these Robotaxis exceeded our expectations and offered a seamless and personalized travel experience that has lit the spark for autonomous driving,” he wrote.
The launch is very important to Tesla, which has been struggling due to weak demand for its regular vehicles. Indeed, CEO Elon Musk has repeatedly said that most of the company is riding on the success of its autonomous products.
“The future of the company is fundamentally based on large-scale autonomous cars and large scale and large volume, vast numbers of autonomous humanoid robots,” Musk said during the company’s last earnings call.
After taking a couple of rides in the robotaxis yesterday, Wedbush Securities analyst and Tesla bull Dan Ives reiterated his belief that the service could add another $1 trillion to the company’s $1 trillion market cap. “Overall, these Robotaxis exceeded our expectations and offered a seamless and personalized travel experience that has lit the spark for autonomous driving,” he wrote.
The launch is very important to Tesla, which has been struggling due to weak demand for its regular vehicles. Indeed, CEO Elon Musk has repeatedly said that most of the company is riding on the success of its autonomous products.
“The future of the company is fundamentally based on large-scale autonomous cars and large scale and large volume, vast numbers of autonomous humanoid robots,” Musk said during the company’s last earnings call.
