Tesla (TSLA) has a big October, with third-quarter delivery data and earnings coming next month. However, the global EV giant is also scheduled to reveal its highly anticipated robotaxi on Oct. 10 at an event in Los Angeles, California. Investors appear to be waiting until then before making any big Tesla stock bets.
Robotaxi event invitations were officially sent to Tesla investors on Wednesday and while most of the details are still under wraps, Chief Executive Elon Musk is setting sky-high expectations for the event.
“This will be one for the history books,” Musk posted to X on Wednesday, along with a photo of the event announcement. “We, Robot,” the banner reads. “10.10 Los Angeles.”
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Tesla’s Robotaxi Is Delayed. Will It Make A Difference For Tesla Stock?
On Sept. 11, Musk wrote on X that in his opinion the robotaxi reveal will be the most significant moment for Tesla since the EV company unveiled the Model 3 nearly nine years ago.
Tesla Stock Rebounds As The Robotaxi Approaches; But What About Waymo
Tesla stock jumped 1.4% during premarket action on Thursday after gaining more than 1% to 257.02 on Wednesday— climbing further above its 50-day moving average to within around 5% of its July high.
With several weeks remaining until Oct. 10, this is what investors need to know heading into the event.
Tesla Stock: Location And Viewing
Tesla has confirmed the robotaxi reveal will take place in Los Angeles, but have not officially announced a venue location. Bloomberg reported that Tesla will hold the event at the Warner Bros. studio in Burbank. However, that has not yet been confirmed.
On Sept. 10, Tesla announced retail investors could sign up for a chance to attend the event in person. Entries for the draw must have been made by Sept. 17.
Those invitations went out to Tesla investors Wednesday with only a select few investors receiving the nod to attend in person.
“Join us for We, Robot — our official unveiling of the future of autonomy,” the invite proclaims.
Investors must RSVP before Oct. 6 to be able go to the robotaxi reveal, according to screenshots of the invitation. Tickets are non-transferrable and guests must be at least 21 years of age. The invite states “next steps” will be sent out after tickets are confirmed.
Remarks will begin at 7 p.m. on Oct. 10. The event is expected to be broadcast across Tesla’s different social media channels, including X and YouTube.
The Robotaxi And Maybe Something Else?
Musk previously planned to unveil the robotaxi on Aug. 8, but pushed the event out to “make some important changes.” Musk also hinted on the Q2 earnings call that there could also potentially be other product announcements on Oct. 10.
“Moving it back a few months, allowed us to improve the robotaxi, as well as add in a couple other things for the product unveil,” Musk said on the July 23 earnings call.
Adam Jonas, Morgan Stanley’s high-profile auto analyst and a TSLA bull, wrote on Sept. 5 he expects the Oct. 10 robotaxi event will include a demonstration of the latest iteration of full self-driving, or FSD, which would be version 12.5 or later, as well as a demonstration of a fully-autonomous robotaxi, or “cyber-cab” driving on a “a closed/semi-closed course.”
Jonas stressed that Tesla currently has a permit for autonomous vehicle testing “with a driver” but does not possess a permit for autonomous vehicle testing or deployment without a driver.
On Musk’s hints at other products, Jonas wrote: “Could we see an electric plane? A boat? The latest gen Optimus robot flipping burgers at a Tesla Diner? We’re not really sure.”
“We remind investors that such events aim to achieve multiple purposes including recruiting, marketing and consumer education,” the analyst added.
Tesla Stock Performance
TSLA shares rose 3.5% to 238.25 last week, clearing an aggressive entry of 235. TSLA stock has an official 271 buy point from a cup base, according to MarketSurge.
On Sept. 5, shares popped above their 50-day moving average, buoyed by robust China sales and the EV giant’s full self-driving rollout plans.
TSLA shares are up 20% in September after declining 7.7% in August. Tesla stock has battled back in 2024 and is now up 3% on the year, after rebounding more than 80% from a late-April low.
Tesla’s Massive October Starts Next Week With Third-Quarter Deliveries
Tesla has a busy October ahead. The EV giant has third-quarter deliveries next week, followed up with the robotaxi event on Oct. 10 and then Q3 earnings.
Tesla stock ranks third in the 35-member IBD Auto Manufacturers industry group. The stock has a 72 Composite Rating out of a best-possible 99. Shares also have an 85 Relative Strength Rating and a 57 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
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