Tesla's recent announcement of its ambitious robotaxi service and a projected recovery in sales has reignited investor interest, driving the stock higher. CEO Elon Musk's plans to launch a paid self-driving vehicle service by June have captured market attention, despite past challenges with delivery and earnings declines. The company's strategy to lead in autonomous vehicle technology, coupled with Musk's bold predictions about Tesla's future, has shifted market sentiment positively. This optimism comes after an initial negative reaction to Tesla's quarterly earnings, which fell short of expectations. The promise of a "ballistic" year ahead for Tesla's autonomous offerings has further fueled investor enthusiasm.
The T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) experienced a decline, dropping 5.95% to $2.37 at 6:40 AM on Thursday, January 30.