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Tesla's Robo Taxi Test Sparks Near-Record Highs
16 Dec
Summary
- Tesla's robo taxi test commenced without a safety monitor in Austin.
- Analysts express skepticism about rapid expansion and associated liabilities.
- Stock has rallied over 100% since April, driven by future vision.
Tesla's stock surged to near-record highs after initiating a robo taxi test in Austin, notably without a safety monitor. This development, however, is viewed by some analysts as an incremental step, with skepticism surrounding the pace of broader market expansion and the significant liabilities tied to full self-driving capabilities.
The company's stock has endured a volatile year, recovering substantially from a first-quarter trough to rally over 100% since early April. This upward movement appears largely sentiment-driven, fueled by a long-term investment perspective on Tesla's future in AI, robotics, and autonomous driving, overshadowing near-term earnings challenges.
Despite the stock's impressive rally, some analysts maintain a sell rating due to valuation concerns. They project that consensus estimates for 2026 and 2027 may still be too high, anticipating a further drop in EV sales as government subsidies phase out, which could become more apparent in upcoming sales reports.
