Tesla expanded its robotaxi service to Miami on July 3, marking another step in its push into autonomous ride-hailing. The company announced the move via its official robotaxi account on X, posting simply: “Robotaxi now available in Miami.”
Unsupervised Model Y Robotaxis operating in the rain in Miami today on day one of service.
I wonder how many vehicles are in the fleet. pic.twitter.com/iuThC1SsRo
— Sawyer Merritt (@SawyerMerritt) July 3, 2026
The service launched in Austin, Texas in June, following an April announcement of planned expansions to Dallas and Houston. CEO Elon Musk said in May he expects fully self-driving vehicles without human safety monitors to become more common across the U.S. later this year.
Tesla opened at $393.45 on Monday, sitting below its 50-day moving average of $407.39 and its 200-day moving average of $411.34. The stock has traded in a 12-month range of $288.77 to $498.83.
The Miami launch comes just days after Tesla reported record Q2 deliveries that beat analyst estimates, driven by a rebound in Europe. Despite the delivery beat, the stock has faced “sell-the-news” pressure as investors shift focus to margins and profitability.
Tesla’s most recent quarterly results, posted April 23, showed EPS of $0.41, topping the $0.39 consensus estimate. Revenue came in at $22.39 billion, up 15.8% year-over-year, though slightly below the $22.96 billion estimate.
Net margin stood at 3.95%, with return on equity at 4.89%. Analysts currently forecast full-year EPS of $1.20.
Analyst sentiment is mixed. Deutsche Bank and TD Cowen reaffirmed Buy ratings, while BTIG downgraded Tesla to Neutral in June. Mizuho cut its price target from $540 to $480 but kept an Outperform rating. The consensus across 45 analysts sits at Hold, with an average price target of $403.92.
Tesla carries a PE ratio of 360.96 and a market cap of $1.48 trillion, which continues to draw valuation scrutiny from some on Wall Street.
On the institutional side, Whittier Trust Co. of Nevada raised its Tesla position by 13.1% in Q1, adding 11,789 units to bring its total to 101,550, valued at around $35.8 million. Several other firms also made modest additions to their positions.
Insiders have been selling. CFO Vaibhav Taneja sold 2,606 units on June 8 at $402.20, a move tied to tax obligations on vesting equity awards. Director Kathleen Wilson-Thompson sold 26,409 units on April 30 at $378.11 under a pre-arranged 10b5-1 plan. Total insider sales over the past quarter reached roughly $12.4 million.
Safety headlines remain a factor. A fatal Tesla Semi crash and a Texas manslaughter case tied to Autopilot-related driving have kept regulatory scrutiny in the picture.
Tesla also recently launched the six-seat Model Y L in the U.S., a longer-wheelbase variant aimed at broadening its lineup.
Institutional investors currently hold 66.20% of TSLA stock.
The post Tesla (TSLA) Stock: From Austin to Miami — Is the Robotaxi Story Finally Gaining Speed? appeared first on CoinCentral.
