Tesla shares rose more than 7% intraday on Sept. 3, marking the stock’s biggest intraday gain since June, according to market data from BIT(bit.com). The move came ahead of Tesla’s Cybercab launch event, scheduled for later that night local time in Austin, Texas.
BlockBeats cited a new Morgan Stanley note saying the event carries more weight than a typical product unveiling and could serve as a key test of Tesla’s progress in commercializing autonomous driving. The bank said the pace of scaling an unsupervised Robotaxi fleet will be a direct driver of Tesla’s stock performance for the rest of the year.
Morgan Stanley also pointed to data from the Texas Department of Motor Vehicles showing Tesla has recently registered about 45 Cybercab vehicles for commercial operations. That registration activity underpins the bank’s constructive view going into the event. In its scenario analysis, Morgan Stanley said the stock could react positively if Tesla deploys 25 to 50 Cybercabs in Texas for paid passenger service within days to weeks after the launch. If the event ends up being limited to a supervised retail-style demonstration without a meaningful unsupervised fleet rollout, the bank expects the shares to come under pressure afterward.
Tesla (TSLA) rose more than 7% intraday on Sept. 3, its biggest intraday advance since June, according to market data from BIT(bit.com).
The move came ahead of Tesla’s Cybercab launch event, which is set to take place later that night local time in Austin, Texas. Citing Morgan Stanley’s latest research note, BlockBeats said the event will be an important test of Tesla’s progress in turning autonomous driving into a commercial business, with implications that go beyond a standard product launch.
Morgan Stanley said the real question is whether Tesla can scale an unsupervised Robotaxi fleet. The bank argued that progress on that front will directly shape the direction of Tesla’s share price for the rest of the year. It also pointed to data from the Texas Department of Motor Vehicles, which show Tesla has recently registered about 45 Cybercabs for commercial operations, supporting a positive view ahead of the event.
In Morgan Stanley’s view, the stock could respond well if Tesla manages to deploy 25 to 50 Cybercabs in Texas for paid passenger service within days to weeks after the launch. If the event is limited to a supervised retail demonstration and does not lead to a meaningful rollout of an unsupervised fleet, the bank expects the shares to face pressure after the event.
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