TSLA Stock Up 7% Ahead Of Cybercab Launch Event — Fund Manager Sees Selloff Ahead, Citing Past Patterns
Yahoo Finance ·
Investor Gary Black of The Future Fund noted the familiar pattern on X: Tesla stock often rallies into company events as expectations build, then sells off the next day when the details fail to match the hype.Tesla first unveiled the vehicle on October 10, 2024, at Warner Bros. Studios in Burbank.Tesla began production of the vehicle earlier this year and will unveil the production version of the vehicle later on Thursday.Tesla shares jumped about 7% on Thursday, trading near $382, as investors piled in ahead of the company’s Cybercab launch event in Austin.The stock closed Wednesday at $357.01. By early afternoon Thursday, it was up more than $25, putting Tesla among the day’s stronger large-cap movers. The stock is on track to clock its best day since late June, if the gains hold.Tesla will be presenting the production Cybercab, a two-seat robotaxi with no steering wheel or pedals, after hours on Thursday. The invite-only event is scheduled for 4:45 p.m. CDT.Why The Stock Is Rising Into The EventInvestor Gary Black of The Future Fund noted the familiar pattern on X: Tesla stock often rallies into company events as expectations build, then sells off the next day when the details fail to match the hype. He said Thursday’s setup looks similar, with Tesla up about 17% over the past month, versus a flat-to-slightly higher Nasdaq-100. Investors are now awaiting details on Cybercab production, pricing, and the timing of the vehicles joining the paid robotaxi fleet from the event on Thursday.This is the second Cybercab event. Tesla first unveiled the vehicle on Oct. 10, 2024, at Warner Bros. Studios in Burbank. Elon Musk arrived on stage in one of the two-seat prototypes and also unveiled a Robovan concept meant for more than two riders. Musk also said that the vehicle would be priced below $30,000 once production starts.Production of the purpose-built cab later began at Gigafactory Texas earlier this year. Tesla already operates unsupervised robotaxi rides in several U.S. cities using modified Model Ys. It is unclear whether Tesla intends to supplement its existing fleet with the Cybercab or replace them entirely with Cybercabs.Earlier in August, Morgan Stanley said evidence that Tesla can scale robotaxi service is one of the main ways to win back investors after a weak year for the stock, which remains down year-to-date.How Shares Reacted After Recent Tesla EventsOctober 2024, “We, Robot” reveal: Tesla unveiled the Cybercab prototype, a Robovan concept and new Optimus robots. The show was light on timelines, costs, and a commercial plan. Shares fell 8.8% the next day, wiping out tens of billions in market value.June 2025, Austin robotaxi launch: Tesla began limited paid rides in modified Model Ys without a driver on Sunday, June 22. The next trading day, June 23, the stock rose about 8%. Analysts called it a milestone but noted the fleet was still small.July 2026, second-quarter results: Tesla reported record deliveries and revenue after the close on July 22, but profit missed forecasts, margins shrank, and free cash flow turned negative as spending on autonomy and robots jumped. Shares fell about 14.5% on July 23.How Did TSLA Retail Traders React?On Stocktwits, retail sentiment around TSLA stock remained ‘bullish’ over the past 24 hours, while message volume was ‘high.’A Stocktwits user dismissed the upcoming event as “old news” and echoed Black’s opinion of a selloff following on Friday.https://stocktwits.com/Steve_TheBull_Rogers/message/663557482“always bet against Elon, especially on events day…,” another wrote. “Even a good event could cause a drop if traders decide the good news was already priced in.”https://stocktwits.com/MontgomeryB/message/663558294TSLA stock has fallen 15% year-to-date. Read More: PSNY Stock On Track For Worst Day Ever As CEO Says Firm Will Not Appeal US Ban On New Vehicle SalesFor updates and corrections, email newsroom[at]stocktwits[dot]com.
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