Tesla Just Put Driverless Cybercabs on Austin Streets but Bettors Are Pricing a SpaceX Merger at Nearly 50%

Tesla shares fell 3% to $363.80 after its Cybercab launch event failed to address key questions about deployment, production, and regulations. The stock had risen 5% on Thursday but is down 16% year-to-date. Tesla has registered 45 Cybercabs in Texas, far fewer than Waymo's nearly 1,000 vehicles. Regulatory approval remains uncertain as Tesla has not filed an exemption request with NHTSA. Analysts are divided on the event's success, with some predicting rapid expansion and others seeing it as un

The National Highway Traffic Safety Administration is investigating Tesla's new Cybercabs for compliance with safety rules. Tesla began offering rides in Austin, Texas, with these steering-wheel-free taxis. Tesla stock fell over 5% to $357.38 on the news. The company faces other federal probes into its self-driving software.

The National Highway Traffic Safety Administration (NHTSA) is investigating Tesla's Cybercab for being launched without a steering wheel or pedals, citing potential non-compliance with federal safety standards. Tesla's stock dropped over 4.5% following the announcement. The NHTSA seeks more information and is auditing the certification process. Tesla claims the Cybercab complies with all Federal Motor Vehicle Safety Standards (FMVSS).

Tesla's stock fell 3% premarket Friday after its Cybercab launch event disappointed investors. The company produced about 1,000 Cybercabs, but the rollout was limited to a small area in Austin. Tesla plans to expand availability next month. Analysts had mixed expectations, with some hoping for a broader launch. The NHTSA is auditing Tesla's self-certification process for the Cybercab.

Stock futures are mixed ahead of the August jobs report, which may influence the Fed's interest rate decision. Tesla is under investigation by auto safety regulators, and its shares fell 3% premarket. Lululemon shares dropped 20% after lowering its full-year revenue outlook. Adobe named Anil Chakravarthy as its new CEO, and its stock is down 4% premarket.

Tesla stock fell 3% in pre-market trading to $365 after its Cybercab launch event disappointed investors and triggered a federal safety review. The NHTSA is auditing 1,000 Cybercab vehicles for compliance with safety standards. Analysts' ratings and price targets did not prevent the decline. The broader market was flat, indicating the drop is company-specific. Tesla had 45 Cybercabs registered in Texas compared to Waymo's nearly 1,000.