TSLA: Tesla Stock Pops as Musk Addresses Robotaxi Delay: “Show Off a Few Other Things”

Tesla shares advanced 1.6% after Musk explained why the robotaxi launch was getting delayed. And then he said two of his companies are leaving California.

• Tesla stock TSLA rebounded 1.6% on Tuesday, following a flat Monday session, after Elon Musk offered an explanation as to why Tesla’s robotaxi got a delayed launch. Last week, the EV maker pushed back its robotaxi car to an October release from the originally scheduled August 8 rollout date. “Requested what I think is an important design change to the front, and extra time allows us to show off a few other things,” Musk tweeted Tuesday.
• In addition, several other things happened that helped shape the outlook for Musk’s moves. The eccentric billionaire endorsed Donald Trump for another four years in the White House after a raw weekend of emotions and a failed assassination attempt on the former President. With multiple tweets, memes, and comments, the Tesla CEO made it clear that he’s now on team Trump.
• What’s more, Musk said he’ll move the headquarters of two of his companies — X Corp. (former Twitter) and SpaceX — to Texas from California. What prompted this decision was California Gov. Gavin Newsom’s intention to sign a new law next week that seeks to prevent schools from informing families if their children identify as gay or transgender. “This is the final straw,” Musk wrote on X.