TLDR
- Tesla teased a Cybercab launch event on X, offering robo-taxi riders through Aug. 23 a chance to be invited.
- TSLA stock was down 0.3% at $335.94 in premarket trading Wednesday, showing little reaction.
- Tesla’s robo-taxi service launched in Austin in June 2025 and now operates in a handful of cities.
- Tesla missed Q2 EPS estimates badly, reporting $0.33 vs. the $0.50 consensus, though revenue beat at $28.24 billion.
- Analysts hold an average price target of $401.74 on TSLA, with a consensus “Hold” rating.
Tesla teased a Cybercab launch event Monday evening on X, telling customers that anyone riding a Tesla robo-taxi through Aug. 23 would have a chance to score an invite. TSLA stock barely moved, sitting down 0.3% at $335.94 in premarket trading Wednesday.
That muted reaction tells you something. The market has seen this movie before.
Back in October 2024, Tesla stock was around $240 ahead of a robo-taxi event hosted by Elon Musk. A month later it was trading near $350. This time, the stock is already in that range, and investors want more than a launch event.
Tesla launched its AI-trained robo-taxi service in Austin, Texas, in June 2025, using Model Y vehicles running its Full-Self Driving software. The service has since expanded to a handful of cities. The Cybercab, a purpose-built vehicle with no steering wheel, is the next step. Production of the Cybercab began this year.
Tesla has also reportedly filed plans for a charging hub with up to 80 wireless chargers, signaling investment in scaling the fleet.
Earnings Miss Weighs on Sentiment
Tesla reported Q2 earnings on July 22nd. The company posted $0.33 EPS, missing the $0.50 analyst consensus by $0.17. Revenue came in at $28.24 billion, ahead of the $26.42 billion estimate, and up 25.5% year over year.
Return on equity was 3.82% and net margin sat at 3.67%. Free cash flow has turned negative as Tesla pumps money into robo-taxi infrastructure and AI-trained robots.
The company trades at roughly 312 times earnings. That is a high bar to clear, and the recent earnings miss did not help.
Competition Is Closing In
Tesla is not alone in chasing robo-taxi dollars. Alphabet’s Waymo and Amazon’s Zoox are both expanding, with Zoox recently moving into San Francisco and Las Vegas.
How the market will split out, and who captures the most business, is still an open question.
On the institutional side, Petersen Hastings Wealth Advisors raised its Tesla stake by 142.1% in Q2, bringing its holding to 3,436 shares worth around $1.45 million. Institutional investors collectively own 66.2% of TSLA.
Vanguard holds 258.9 million TSLA shares. State Street holds 114.8 million. Geode Capital holds 65.7 million.
On the analyst front, Evercore upgraded TSLA to outperform in June. DZ Bank lifted it to strong buy in July. Morgan Stanley kept an equal weight rating but trimmed its target from $417 to $400. Mizuho set a $450 target with an outperform rating. GLJ Research sits at the other end, reaffirming a Sell with a $24.86 target.
The average analyst price target stands at $401.74, with the consensus rating at “Hold.”
TSLA has a 52-week range of $297.38 to $498.83. Its 50-day moving average is $368.18 and its 200-day moving average is $388.55.
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