While Elon Musk’s electric vehicle (EV) maker, Tesla (NASDAQ: TSLA), appears to have successfully built up hype among its fans for the Thursday, September 3, ‘Cybercab’ event, Wall Street seemingly remains relatively unfazed.
Indeed, reflecting on the ‘exclusive’ event on September 2, Morgan Stanley’s (NYSE: MS) Andrew Percoco reflected on how previous similar showcases tended to generate mixed market results while opining that a simple unveiling of the autonomous taxi car is unlikely to trigger a substantial rally.
Additionally, though the Wall Street analyst did not deny there was a possibility the day brings more impactful revelations, he still retained the previous ‘Equal Weight’ – ‘Hold’ – rating for TSLA shares and the conservative $400 price target for the next 12 months.
Tesla ‘exclusive’ Texas Cybercab event explained
Elsewhere, Tesla has slowly been increasing the marketing effort for the Thursday, September 3 event in Austin, Texas, since late August.
The EV maker has been highlighting that its self-driving technology will make the streets safer, saying that ‘It will change your life’, describing it as a ‘guardian angel,’ and engaging in similarly worded promotion.
Still, details regarding the ‘exclusive’ event have remained somewhat elusive, based on the list compiled by Reuters and published on September 2 in what appears to be either preparation for bigger-than-expected reveals, or an effort to make the launch appear more momentous than it earnestly is.
Tesla stock price reacts to Thursday Tesla Cybercab event
Meanwhile, investors so appear to have offered no meaningful reaction to the ‘Cybercab’ launch. Though Tesla stock rallied 8.99% through August, the uptrend was seemingly triggered by the post-earnings crash generating a sufficiently enticing buying opportunity.
Additionally, TSLA shares have even declined slightly in the last two weeks and are, once the September 2 early-morning slump to $351.05 is included, down 3% relative to August 21.
Overall, Elon Musk’s older public company has declined 19.86% since 2026 started and is trading nearly 30% below the highs recorded late in 2025.
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