Tesla (TSLA) Stock Pops 5% as the Solar and Robotaxi Narrative Takes Hold
TLDR
- Tesla stock jumped nearly 5% as investors focused on its autonomous driving and robotaxi ambitions
- Elon Musk posted on X that SpaceX and Tesla are each building 100 gigawatts per year of solar production capacity
- FSD beta testers flagged issues with pothole and road debris detection, but investors looked past near-term concerns
- Tesla’s Q2 revenue came in at $28.24 billion, beating estimates, but EPS of $0.33 missed the $0.50 consensus
- TSLA is down 15.9% year-to-date and trades 24.8% below its 52-week high of $489.88
Tesla (TSLA) jumped roughly 5% on Monday, trading at $368.38, as investors bet on the long-term potential of its autonomous driving technology and growing energy ambitions.
The move came as attention returned to Tesla’s Full Self-Driving software and its planned robotaxi network. Beta testers have pointed out that the FSD system still struggles with potholes and road debris, but the market appears comfortable looking past those issues for now.
Elon Musk added fuel to the rally over the weekend. He posted on X that SpaceX and Tesla are each building 100 gigawatts per year of solar production capacity. That framing puts Tesla closer to the AI infrastructure story, which investors have been rewarding across the market.
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