Bullish Calls for Tesla Grow Despite Robotaxi Delay

Tesla's (TSLA) planned debut of its autonomous robotaxi could thief thrust nan electrical conveyance maker's banal value higher, according to Baird analysts, contempt delays aft CEO Elon Musk said Monday that nan arena has been postponed from its original Aug. 8 date.

Baird analysts said Tuesday that nan robotaxi arena is still expected to beryllium a "positive catalyst" for Tesla stock, and suggested nan other clip could let for much products to beryllium included successful nan event.

Robotaxi's Delay Could Mean More New Products and Features

"We deliberation nan push-out of nan arena from August 8 until October increases nan probability of TSLA unveiling a caller vehicle(s) connected its adjacent procreation platform," Baird analysts said.

Musk said Monday that nan arena had been delayed complete a creation alteration he requested, and added nan other clip would let Tesla to "show disconnected a fewer different things."

Musk did not supply a caller day for nan event, but a Bloomberg report last week said nan arena was being delayed to October truthful much prototypes could beryllium built for nan event.

Tesla could besides supply much accusation astir nan arena erstwhile it reports net adjacent week.

Tesla shares vanished 1.6% higher astatine $256.56 Tuesday and person gained successful each but 1 of nan last 14 sessions amid optimism astir nan robotaxi arena and better-than-expected transportation numbers reported earlier this month.