Tesla Hits Record Close Amid Robotaxi Speculation
Tesla surged 3.1% to a record $489.88 close Tuesday, erasing its Q1 36% slump—the worst since 2022—with year-to-date gains now at 21%. The rally came after Elon Musk revealed autonomous vehicle tests in Austin without safety drivers, reigniting robotaxi hopes.
The announcement propelled Tesla's valuation to $1.63 trillion, surpassing Broadcom to rank seventh among public companies. Musk's net worth ballooned to $684 billion, extending his lead over tech peers.
Yet challenges loom: regulatory scrutiny intensifies as these prototypes remain unavailable to consumers, and political headwinds persist following Musk's WHITE House engagement earlier this year.