Tesla announced the launch of its first robotaxi service in Austin, leading to a noticeable rise in the company's stock on the financial market.
Robotaxi Launch in Austin
Tesla's robotaxi service began operations with 10-20 Model Y vehicles in a confined geographical area of Austin. The initial launch was limited to a select group of users who reported positive experiences. The vehicles are marked with 'Robotaxi' graphics and offer features like Tesla account synchronization for streaming apps.
Tesla Stock Dynamics
At the time of writing, Tesla shares (NASDAQ: TSLA) were trading at $357.43, up 10.95% from the previous day. Despite the recent surge, the stock has still shown a year-to-date decline of 11.49%, while it has risen by 95.31% over the past year. The company's market capitalization stands at $1.151 trillion.
Analysts' Opinions
Analysts have mixed views regarding Tesla's prospects. Some, like Dan Ives from Wedbush, described the launch as 'foundational' for the company’s future robotaxi ambitions, while others, such as Dan Levy from Barclays, warned against becoming overly optimistic, emphasizing that significant challenges remain in scaling up.
The launch of the Tesla robotaxi in Austin marks a significant milestone for the company, which may greatly influence its future, despite existing challenges and skepticism in the market.
