Tesla (TSLA) Jumps on Looming Robotaxi Launch

We recently published a list of Investors Are Gobbling Up Shares of These 10 Firms. In this article, we are going to take a look at where Tesla, Inc. (NASDAQ:TSLA) stands against other top-performing companies on Tuesday.

Tesla grew its share prices for a third straight day on Tuesday, jumping 5.67 percent to finish at $326.09 apiece as investors gobbled up shares ahead of the expected launch of its robotaxis this month.

Investor sentiment was particularly spurred by a spotted Tesla robotaxi plying the road in Austin, Texas, just this week. The video sparked optimism that Tesla, Inc. (NASDAQ:TSLA) may be ramping up its preparations for its official rollout.

In a video shared on various social media sites, a Tesla Model Y can be seen operating completely driverless and confidently making a turn.

Additionally, the state of Texas has hinted at the company’s robotaxi launch on its website on Monday, listing the company as an autonomous vehicle operator on Austin’s official Department of Motor Vehicles (DMV).

Other AV operators listed on the site are Waymo and Zoox, among others.

Billionaire Elon Musk said earlier that the company has already been preparing for the official rollout since last month.

Overall, TSLA ranks 9th on our list of top-performing companies on Tuesday. While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.