TSLA Stock Gains For First Time In Five Sessions – Tesla Expands Robotaxi Service In Florida Ahead Of Q2 Earnings

Tesla launched its Robotaxi service in Orlando and Tampa, its third launch in Florida after debuting the autonomous service in Miami earlier this month.

• The expansion builds on the Robotaxi launch in Austin last June, followed by rollouts in Dallas and Houston earlier this year.
• The carmaker is also conducting supervised Robotaxi testing in California’s San Francisco Bay Area.
• The company is expected to report second-quarter earnings after market hours on Wednesday.

Shares of Tesla (TSLA) drew investors’ attention after the electric vehicle giant expanded its much-talked-about Robotaxi service to Orlando and Tampa on Tuesday, marking its third launch in Florida after debuting the autonomous ride-hailing service in Miami earlier this month.

Unsupervised Model Y Robotaxi rides are now available in both cities, extending Tesla’s rollout as investors await the company’s second-quarter earnings, scheduled after the closing bell on Wednesday.

At the time of writing, TSLA shares were up 3.5% and are on track to close in the green for the first time in five sessions.

Robotaxi Rollout Gains Momentum As Wall Street Remains Bullish

The expansion builds on Tesla’s Robotaxi launch in Austin, Texas, last June, followed by rollouts in Dallas and Houston earlier this year. The company is also conducting supervised testing in California’s San Francisco Bay Area.

Wall Street is optimistic about the company’s autonomous driving ambitions. Cantor Fitzgerald recently reiterated its ‘Overweight’ rating, saying the Robotaxi business and upcoming Cybercab platform could evolve into a high-margin software-as-a-service business. Morgan Stanley raised its price target, citing Robotaxi and the Optimus humanoid robot as Tesla’s biggest long-term growth drivers.

TSLA Retail Chatter Is Mixed

Retail sentiment surrounding TSLA on Stocktwits remained ‘bullish’ over the past 24 hours.

Chatter was mixed, with one user remarking that Tesla is just getting started, while another user was skeptical about the company making a profit from the rides.

View this Stocktwits post

View this Stocktwits post

According to Fiscal.ai, analysts expect Tesla to report $26.36 billion in second-quarter revenue, up from $22.50 billion a year earlier, with adjusted earnings per share projected to rise 35% to $0.54.

Tesla shares have declined more than 12% so far this year, and are the second-worst-performing stock in the Magnificent 7 group, outperforming only Microsoft.

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