Tesla shares have been on a roll as anticipation builds ahead of what could be a big event for the company.
Tesla tantalized fans with posts on X saying "try it," and "no steering wheel, no pedals" ahead of a planned, invitation-only Cybercab event in Austin, Texas on Thursday. Elon Musk's automaker first unveiled the company's Cybercab in October 2024.
Bloomberg just labeled the Cybertruck the biggest flop in automotive history, and Range Rover is about to roll out its own six-figure electric vehicle into the same skeptical market.
The Mag7 has performed poorly this year. Only three of its companies have outperformed the S&P 500.
Tesla is about to hold a launch event for the Cybercab, which doesn't have pedals or a steering wheel.
While Elon Musk's electric vehicle (EV) maker, Tesla (NASDAQ: TSLA), appears to have successfully built up hype among its fans for the Thursday, September 3, ‘Cybercab' event, Wall Street seemingly remains relatively unfazed.
Tesla just posted record deliveries while its margins cratered, and BYD keeps selling millions of cars to a stock market that barely notices. Only one of these EV giants is actually set up for a bigger move from here.
Tesla stock TSLA fell 3% on Tuesday, giving back part of its 5.5% gain from the previous session as investors reassessed the company's robo-taxi prospects and digested mixed vehicle registration data from Europe. Tesla shares were down 3.1% during Tuesday's session, compared with declines of about 0.5% for both the S&P 500 and Dow Jones Industrial Average.
Waymo argued last week that fully autonomous vehicles are not possible without using a mix of sensors, and that “pure end-to-end” AI systems are not safe enough — shots at Tesla, despite the Alphabet-owned company not naming names.
Tesla's supervised self-driving technology recorded 4.1 times fewer collisions than manually driven Tesla cars in the five European countries where it is permitted, the automaker said on Tuesday, as it steps up lobbying efforts ahead of an EU vote on wider deployment.
TSLA stock moves above its 50-day SMA as FSD adoption and Cybercab buzz build, but rich valuation, margin pressure and falling cash flow cloud the rally.
Tesla (NASDAQ:TSLA | TSLA Price Prediction) stock is giving back part of a large August advance two trading days before a scheduled product event, and the selling is far heavier than what the broader large-cap technology benchmark or its own