TLDR
- Tesla (TSLA) shares jumped to $355, reaching their highest level since late June with a 14% recovery from recent lows
- Robotaxi service expansion in Austin now covers 170 square miles, nearly doubling from the initial 20 square miles at launch
- Elon Musk promotes FSD version 14 as “two to three times better than a human driver” with testing expanding to Las Vegas tunnels
- Model Y L launched in China at 339,000 yuan ($47,000) featuring six-seat configuration and 751km range
- Technical analysts see Tesla forming a “BIG BASE” pattern similar to previous setups that preceded major rallies
Tesla (TSLA) stock continues its impressive climb, hitting $355 and marking the highest level since late May. The electric vehicle maker has posted gains for three consecutive sessions, adding 10% to its stock price during this run.
The current price represents a strong 14% recovery from recent lows. Trading volume exceeded 72 million shares on Monday, well above the 10-day average, showing increased investor interest.
Tesla now trades with a market cap of $713.6 billion. The stock remains about 28% below its December 2024 high of $488.54 but has recovered substantially from the $202.59 low reached in April.
The robotaxi expansion in Austin provides concrete evidence of Tesla’s autonomous driving progress. The service area has grown from 20 square miles at launch to 170 square miles currently. This represents the third expansion since the June debut.
Goldman Sachs analysts note that Tesla’s robotaxi operations put the company “on the path to addressing a large market.” The firm estimates the U.S. robotaxi market at $1.7 billion by 2030.
Elon Musk continues pushing Full Self-Driving technology development. He claims FSD version 14 will perform “two to three times better than a human driver.” Version 15 could potentially be “ten times more advanced.”
Autonomous Driving Tests Expand
Tesla has begun testing self-driving cars in Elon Musk’s Boring Company tunnels beneath Las Vegas. This marks another step toward broader autonomous vehicle deployment across different environments.
The company has made strategic changes to its online design studio. Tesla now showcases FSD performance in challenging scenarios to encourage customer adoption of the technology.
Tesla’s new Model Y L launched in China at 339,000 yuan, approximately $47,000. The vehicle targets the competitive family SUV market with an extended wheelbase that’s 150mm longer than the standard model.
The Model Y L features a six-seat “2+2+2” configuration. It offers 751km range based on the CLTC cycle with deliveries beginning in September 2025.
This launch addresses competitive pressure in China where local brands like BYD and Xiaomi have gained market share. These companies offer feature-rich, affordable electric vehicles.
Technical Analysis Shows Strength
Technical analyst John Roque from 22V Research identifies Tesla as “currently in the midst of building a four and a half year BIG BASE.” This pattern resembles previous setups that preceded major stock rallies.
Roque notes similarities to Tesla’s six-year base from 2014 to 2019 and a two-and-a-half-year base from 2010 to 2013. Both patterns served as launch points for substantial gains in subsequent years.
The stock trades above its 12-month moving average. Multiple technical indicators show bullish signals including a MACD crossover and RSI levels around 60.
Tesla broke above key resistance at $348.98 during Tuesday’s session. The next barriers include the psychological $400 level and the December high near $500.
Federal Reserve policy provides additional tailwinds for growth stocks like Tesla. Expectations for interest rate cuts support equity valuations across the technology sector.
RBC analyst Tom Narayan reports increased client interest in Tesla’s humanoid robot opportunity. Tesla plans to sell AI-trained humanoid robots in 2026.
Elon Musk views robots as a huge opportunity for the company. Nvidia CEO Jensen Huang believes robotics will become one of the largest industries in human history.
Narayan acknowledges the humanoid robot industry remains in its infancy. Projecting reliable volumes and profits for any company proves currently impossible.
Wedbush Securities maintains a $500 price target with an “Outperform” rating. This represents 42% upside potential from current trading levels.
Tesla stock is down about 13% year-to-date but up approximately 68% over the past 12 months, showing the volatile nature of the electric vehicle maker’s shares.
