What Investors Need To Know Ahead Of The Tesla Robotaxi Event

Tesla (TSLA) is scheduled to reveal its highly anticipated robotaxi on Oct. 10 at an event in Los Angeles, California, and investors appear to be waiting until then before making any big Tesla stock bets.

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While most of the details are still under wraps, Chief Executive Elon Musk is setting sky high expectations for the event. Musk posted to X on Sept. 11 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 jumped 4.1% to 248.07 during market action on Monday — on pace to close above its 50-day moving average for the ninth consecutive trading session.

With several weeks remaining until Oct. 10, this is what investors need to know heading into the event.

Location And Viewing

Tesla has confirmed the robotaxi reveal will take place in Los Angeles, but have not officially announced a venue location. Bloomberg has reported that Tesla will be holding 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. Travis Axelrod, Tesla's head of investor relations, has said results of the draw will "begin" to be communicated this week.

"We will provide more details when we issue tickets," Axelrod wrote.

While it is likely only a select few investors will be attending in person, the event is expected to be broadcast across Tesla's different social media channels, including X and YouTube.

The Robotaxi And Maybe Something Else?

Chief Executive Elon 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 autos 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 in his analyst note 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.

Uber-Waymo Deal And Tesla

Meanwhile, on Sept. 13, Uber Technologies (UBER) announced that the Uber app will soon offer rides in Waymo's self-driving cars in Austin and Atlanta.

Starting early next year, riders in Austin and Atlanta can hail an autonomous Waymo Jaguar vehicle from within Uber, according to a company announcement. Waymo, which is owned by Google parent company Alphabet (GOOGL) has a similar partnership with Uber in Phoenix.

On Sept. 15, Morgan Stanley analysts Bryan Nowak and Adam Jonas wrote that Waymo's "expanded partnership" with Uber "signals a further endorsement of Uber's value in the early autonomous industry."

For Tesla, the analysts noted that ahead of the Oct. 10 robotaxi reveal "investors are contemplating various paths to commercialization and scaling of Tesla's autonomous vehicle technology."

Nowak and Jonas wrote it remains an open question if Tesla will go the direct-to-consumer route with its full self-driving or autonomous vehicle technology in the long-run or if it will partner with a "leading mobility player like Uber to achieve a more optimal matching of supply and demand for autonomous vehicle trips similar to the recent Waymo partnerships."

Morgan Stanley analysts believe Tesla's mobility, or robotaxi, business will start at a small scale in very specific metropolitan locations, very similar to how Waymo has gone about the process.

"The liquidity and ubiquity of the Uber platform may offer significant win-win potential for Uber and Tesla over time," Nowak and Jonas wrote.

Tesla Stock Performance

TSLA shares rose 3.5% to 238.25 last week, clearing an aggressive entry of 235. Shares jumped 7.4% on Thursday, pulling back modestly on Friday. 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.

But TSLA stock plunged 8.45% on Sept. 6, back below the 50-day line. However, Tesla stock found short-term support, and is now fighting to maintain support at its 50-day line.

TSLA shares are up more than 15% in September after declining 7.7% in August. Tesla stock has battled back in 2024 and is now nearly trading flat on the year, after rebounding more than 70% from a late-April low amid some steep ups and downs.

Tesla has a busy October ahead, with third-quarter deliveries (likely on Oct. 2), the robotaxi event on Oct. 10, and Q3 earnings on Oct. 16.

Tesla stock ranks third in the 35-member IBD Auto Manufacturers industry group. The stock has a 66 Composite Rating out of a best-possible 99. Shares also have an 81 Relative Strength Rating and a 57 EPS Rating.

Please follow Kit Norton on X @KitNorton for more coverage.

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