TSLA: Tesla Stock Jumps 5% After Musk Teases Robotaxi Unveiling on August 8

Shares of EV maker erased some of the steep losses from earlier in the year but still it was mostly a blip.

Key Points:

• Tesla shares gain 5% to start the week.
• Robotaxis set to arrive on August 8.
• Tesla settles fatal crash lawsuit.
• Tesla stock TSLA rose on Monday after a flurry of news sparked investor enthusiasm. On the heels of a shockingly bad first quarter, the EV maker gained 5% to try and erase a chunk of its recent losses after CEO Elon Musk touted a new vehicle joining the squad.
• It’s robotaxi! A self-driving vehicle is on the way, Musk said on his platform X, and will be revealed on August 8. “Tesla Robotaxi unveil on 8/8,” he said on the matter. Tesla taxis have long been in the pipeline. More recently, five years ago, the company said it planned to start operating robotaxis by 2020.
• Earlier today, Tesla agreed to settle a lawsuit over an autopilot-related fatal crash of an Apple engineer dating back to 2018. Previously, Tesla had stated that it was the driver’s responsibility to avoid crashes that involve the driver-assistance technology.