Tesla stock rose roughly 4% on September 8, closing at $368.16 and clawing back some of the ground lost earlier in the week after the company's Cybercab robotaxi launch rattled investors.
The rebound followed a steep slide that began September 4, when Tesla shares fell as much as 6%, dropping to $357.38 in early trading, after federal regulators opened a safety audit into the driverless vehicle just a day after it hit the road.
Tesla began commercial Cybercab rides in Austin, Texas on September 3. The two-seat vehicle has no steering wheel, brake pedal, accelerator pedal, or mirrors.
Shares had climbed about 5% ahead of the launch. But the event itself, held for invited attendees without CEO Elon Musk present, gave investors no update on production timelines or vehicle costs.
Hours after rides began, the National Highway Traffic Safety Administration opened an Audit Query, designated AQ26002, covering close to 1,000 Cybercabs.
The agency said it would examine the technical data and process Tesla used to self-certify the vehicle as meeting Federal Motor Vehicle Safety Standards.
"NHTSA fully supports the safe development and deployment of automated vehicles. But as the federal regulator, we need to ensure that all of our laws are followed," NHTSA Administrator Jonathan Morrison said in a statement announcing the probe.
Tesla told the agency it had self-certified the Cybercab as compliant with all applicable standards and plans to gradually expand deployment to more vehicles and cities.
Analysts tied Friday's 6% drop to two things: the lack of concrete numbers at the Cybercab event, and the same-day NHTSA announcement.
Investors had been watching for guidance on how fast Tesla could scale the robotaxi business, and got neither.
Despite the probe, some investors treated the reaction as overdone. Tesla shares actually ticked up fractionally later that same Friday afternoon even as the NHTSA investigation was making headlines, according to trading data reviewed at the time.
By September 8, Tesla stock had recovered most of that ground. The bounce came alongside a broader rally in tech stocks, which lifted Tesla along with other growth names heading back into risk assets.
Separately, NHTSA has also expanded an existing investigation into Tesla's Full Self-Driving software, which now covers approximately 3.2 million vehicles, including unsupervised robotaxi operations in Texas and Florida.
Tesla's close of 368.16 puts the stock above its 20-day EMA ($353.38) and 50-day EMA ($358.46), a near-term positive.
The stock remains below its 100-day EMA ($371.68) and 200-day EMA ($380.19), meaning the broader trend has not reversed.
Indicator | Level | Price vs. Level |
20-day EMA | $353.38 | Above |
50-day EMA | $358.46 | Above |
100-day EMA | $371.68 | Below |
200-day EMA | $380.19 | Below |
RSI (4H) | ~56.5 | Neutral to bullish |
On shorter timeframes, Tesla has been forming higher lows since a July low, trading above its 20, 50, and 100 EMAs on the 4-hour chart. The stock was rejected near $380 to $385 before pulling back toward $355 to $360, with the 200 EMA around $371.75 acting as resistance.
Tesla now faces two separate NHTSA inquiries running at the same time: the new Cybercab audit query and the expanded Full Self-Driving investigation. Neither has a stated timeline for resolution.
If regulators determine the Cybercab does not comply with federal standards, NHTSA could eventually order a recall following a series of procedural steps, though the agency has not indicated that outcome at this stage.
Tesla continues to compete for market share against Alphabet's Waymo, which already runs paid robotaxi rides in 14 cities with roughly 4,000 vehicles in service.
This article is for informational purposes only and does not constitute financial or investment advice. Stock markets are volatile, and past performance does not guarantee future results. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
