Tesla ( (TSLA) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Tesla has recently showcased its self-driving capabilities in the congested streets of Great Britain, boosting its stock price by nearly 4%. The company’s Model 3 successfully navigated complex traffic systems like the Magic Roundabout in Swindon, demonstrating the potential of its autonomous technology. However, Tesla still awaits regulatory approval in the UK, and while this progress is promising, more testing is needed before full deployment.
In addition to its advancements in self-driving technology, Tesla is preparing to launch its robotaxi service in San Francisco, marking a significant step towards autonomous ride-hailing. Despite these developments, Tesla faces challenges such as regulatory hurdles and increased competition, particularly in China where its sales have been declining. The company also missed out on potential gains by selling most of its Bitcoin holdings before the cryptocurrency’s recent surge. Analysts currently have a Hold consensus on Tesla stock, with a slight downside risk based on current price targets.