Musk Unveils New Robotaxi Plans, Sending Tesla Stock Higher Against Market Trends!
TradingKey – Elon Musk revealed the latest updates on Tesla’s autonomous Robotaxi project, driving Tesla (TSLA) stock up despite broader market declines.
On Tuesday, May 20, Tesla(TSLA) shares defied market trends, rising 0.51% to $343, while major U.S. indices fell by approximately 0.3%. Big Tech stocks saw sharp declines, with Google(GOOG) and Amazon (AMZN) dropping over 1%.
Tesla Stock Chart – Source: Google.
Tesla managed to stay in the green despite the broader market slump, largely due to progress in its autonomous vehicle sector. Musk stated,"Tesla is set to begin testing its autonomous Robotaxi fleet in Austin, Texas. Initially, around 10 vehicles will be deployed, with plans to scale up to 1,000 units within the first month."
Musk further revealed that Robotaxi services will gradually expand to San Francisco, Los Angeles, and other major cities. Additionally, he predicted: "By the end of next year, Tesla aims to have as many as 1 million fully autonomous vehicles in operation."
Related Articles
Moody's downgrade of credit rating leads to selling of US Treasuries. Safe-haven demand rises and gold price rises above $3,300. Will gold resume its
TradingKey - After downgrading the US sovereign credit rating last week, the rating agency Moody's has again downgraded the long-term credit ratings of several major US banks.
What Is A Stablecoin? Will It Replace the U.S. Dollar's Dominance in the Future?
A stablecoin is a cryptocurrency designed to maintain price stability, typically pegged to fiat currencies like the U.S. dollar (USD), euro (EUR) or commodities such as gold. Its primary purpose is to reduce volatility, making it a bridge between traditional finance and the crypto world.
Trouble in U.S. Fiscal Discontinuity: Does a Credit Downgrade Matter? Who Are Bond Vigilantes?
TradingKey - As the world's largest economy, why does the U.S. keep facing fiscal challenges? What does losing the final AAA rating mean for U.S. Treasury bonds? And how will the so-called “bond vigilantes” respond?
Riding the Tariff Waves: Asset Allocation and Investment Strategies
TradingKey - The uncertainty of Trump’s tariff policies is disrupting global markets, making already volatile markets even more unpredictable. This paper analyses multi-assets, sectors, and individual stock strategies to identify reliable investment opportunities in an uncertain political...
Container ship owners swamped as US-China trade detente revives demand
LOS ANGELES/HONG KONG, May 16 (Reuters) - Container ship bookings for China-to-U.S. cargo have surged since the countries declared a 90-day truce on punitive tit-for-tat tariffs last weekend, operators said, spawning traffic jams at Chinese ports and factories that could take weeks to clear.
