Tesla's Stock Drives Up to a Record High, After a Year-Long Wait

Core Insights - Tesla's stock has reached a record high, closing near $490, marking a significant increase of about 3% on Tuesday and more than doubling from its lows in March [1][5] - The surge in stock price is attributed to renewed investor enthusiasm for CEO Elon Musk's commitment to advancements in autonomous driving, robotics, and AI [1][5] Stock Performance - Tesla's shares have seen a strong upward trend, achieving their highest level since last December's close at $479.86 [1] - Analysts from Mizuho have raised their price target for Tesla's stock to $530 from $475, citing improvements in self-driving software that operates over 99% of the time without driver intervention [3] Autonomous Driving Developments - Elon Musk announced on social media that Tesla is testing fully autonomous robotaxis, indicating a potential reduction in the need for safety monitors [2] - The pilot program for self-driving robotaxis was launched in Austin, Texas earlier this year, with previous requirements for a Tesla employee to be present during rides [2] Analyst Sentiment - Despite the positive developments, there is mixed sentiment among analysts; only six out of twelve analysts currently rate the stock as a "buy," while three rate it as "hold" and three as "sell" [4] - Wedbush analysts have a high target of $600, emphasizing Tesla's advancements in AI and robotics as pivotal for future growth [4]