Tesla's stock surged 8.23% to US$349 on Monday (June 23), hitting a three-week high following the debut of its autonomous Robotaxi service in Austin, Texas. The limited rollout, featuring just 10 vehicles for invited social media influencers, nonetheless sparked bullish sentiment among investors and analysts.
CEO Elon Musk saw his net worth climb US$19 billion overnight to US$385 billion, bolstered by his 13% stake in the company. Early test rides drew positive reviews, with Wedbush analyst Dan Ives describing the experience as "smooth and safe," helping alleviate concerns about potential delays. Wall Street remains optimistic about Tesla's autonomous driving ambitions, with Cantor Fitzgerald projecting significant market share in future mobility services and Cathie Wood forecasting US$951 billion in potential Robotaxi revenue by 2029.
The rally marks a 23% rebound since early June, fully recovering losses tied to Musk's highly publicized dispute with former President Donald Trump. As Tesla shifts focus toward AI-driven transportation, the Robotaxi launch represents a critical step in its long-term vision for autonomous mobility, though widespread commercialization remains years away.
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