Tesla’s Stock Rebounds Amid European Challenges and Robotaxi Launch

Tesla ( (TSLA) ) has been popular among investors this week. Here is a recap of the key news on this stock.

Tesla’s stock has experienced a significant rebound, climbing nearly 27% over the past month as Elon Musk refocuses on the company’s core mission. Despite this positive movement, Tesla faces challenges in international markets, particularly in Europe, where sales have dropped by nearly 50% year-over-year. This decline is partly attributed to political controversies and increased competition from local and international brands like BYD and Volkswagen. Analysts maintain a ‘Hold’ consensus on Tesla stock, with a price target suggesting a potential downside.

Looking ahead, Tesla is set to launch its robotaxi service in Austin, Texas, on June 12, featuring Model Y vehicles equipped with Full Self-Driving technology. This move is seen as a potential growth catalyst, although the rollout will be gradual with human operators initially monitoring the rides. While Musk’s renewed commitment has sparked a short-term stock rise, long-term investor confidence will depend on Tesla’s ability to address ongoing challenges and successfully execute its ambitious plans.