Tesla’s stock showed a modest increase of 0.2% on Friday, closing at 230.29, which marked its fourth consecutive day above the 50-day moving average. By the end of the week, Tesla (TSLA) had gained over 9%.
As we look forward to the much-anticipated event on October 10, there are some key details investors should be aware of.
Event Location and Viewing Information
Tesla has confirmed that the highly anticipated robotaxi unveiling will occur in Los Angeles, although the specific venue has not yet been officially disclosed. According to reports by Bloomberg, the event might take place at the Warner Bros. studio in Burbank, although this remains unconfirmed.
On September 10, Tesla opened the opportunity for retail investors to sign up for a chance to attend the event in person. Entries for this exclusive draw must be submitted by September 17. Travis Axelrod, Tesla’s Head of Investor Relations, shared on X (formerly Twitter) that the draw’s results will begin to be announced during the week of September 23.
Further details are expected to be provided when tickets are issued. While only a small number of investors may attend the event in person, Tesla is expected to broadcast the event across its social media channels, including X and YouTube, allowing the broader public to witness the robotaxi reveal.
More Than Just a Robotaxi?
Elon Musk, Tesla’s CEO, had originally planned to unveil the robotaxi on August 8 but postponed the event to allow for some key updates. Musk also teased during Tesla’s second-quarter earnings call that additional product announcements could be made at the October 10 event.
“Delaying the event by a few months gave us the chance to enhance the robotaxi and include a few other products for the reveal,” Musk stated during the July 23 earnings call.
Adam Jonas, a well-known auto analyst at Morgan Stanley and an advocate of Tesla, noted on September 5 that he anticipates the October 10 event will showcase the latest version of Tesla’s Full Self-Driving (FSD) system, potentially version 12.5 or later. He also expects a demonstration of a fully autonomous robotaxi, also known as the “cyber-cab,” likely operating on a closed or semi-closed course.
Jonas emphasized in his report that while Tesla currently holds a permit for autonomous vehicle testing “with a driver,” it does not have a permit for driverless autonomous vehicle testing or deployment.
Speculating on Musk’s hints about other potential products, Jonas wrote: “Could we see an electric airplane? A boat? Or perhaps the latest version of the Optimus robot flipping burgers at a Tesla Diner? It’s hard to say for sure.”
Jonas also reminded investors that events like these serve several purposes, including recruitment, marketing, and educating consumers about Tesla’s innovations.
Tesla Stock Performance
Tesla stock experienced some volatility last week, dropping by 1.6% to 210.73. However, on September 5, the stock surged past its 50-day moving average, driven by strong sales in China and the company’s plans for rolling out full self-driving technology.
Despite the optimism, TSLA shares tumbled 8.45% on September 6, falling back below the 50-day moving average. The stock has since stabilized and is now attempting to regain its footing above that key threshold, potentially forming the right side of a new base.
So far in September, Tesla shares have climbed 6.6%, recovering from a 7.7% dip in August. For the year, Tesla stock is down around 8% but has rebounded by approximately 60% from a low in late April, though the stock has experienced significant ups and downs.
With the robotaxi event drawing closer and anticipation growing, the market will be closely watching Tesla’s performance, both in terms of its stock and the technological breakthroughs the company is expected to unveil.
