Tesla (TSLA, Financial) experienced a significant stock price increase, rising by as much as 11% before stabilizing around a 10% gain at $355. This surge follows CEO Elon Musk's announcement of the pilot launch of Tesla's Robotaxi service in Austin, Texas. The initial test phase will operate in selected areas of Austin, with a human "safety monitor" in the front passenger seat of each vehicle. Users participating in this early experience will pay a fixed fee of $4.2 per ride.
Earlier in the year, Tesla shares had dipped to $284.7 following a public dispute between Musk and President Trump. Since then, the stock has rebounded significantly, climbing nearly 25% from its low in June.
