Arizona’s Department of Transportation is currently reviewing Tesla’s (NASDAQ: TSLA) application to operate autonomous vehicles both with and without a driver, with a decision now expected by the end of August.
Tesla CEO Elon Musk said confidently on Sunday, August 10, that the company’s Robotaxi service, first launched in Texas in late June, would become publicly available next month.
Musk tweeted again an hour later, saying he sees “a potential path for an epic outcome,” leading Tesla shares to rise 1.27% in pre-market trading on Monday, August 11, when they traded at $329.68 at the time of writing.
Will Tesla stock hit $2,000?
During Tesla’s late-July earnings call, Musk stated the robotaxi service would reach as much as half of the population of the U.S. by the end of the year.
In a social media post, the CEO also teased major upgrades to Tesla’s Full Self-Driving (FSD) system, including a new model with roughly 10 times more parameters and improved video compression that could also be unveiled by the end of September.
More strikingly, however, Musk expressed an opinion last week that a $150,000 investment in Tesla would most likely make you a millionaire, agreeing with a projection shared on X by Tesla investor Cole Grinde.
In other words, the world’s richest man believes TSLA shares could increase nearly sevenfold in the future, to over $2,000, with the company’s market cap reaching no less than $6.5 trillion, as per Teslaconomics.
Meanwhile, the company is also waiting for Ofgem, the British electricity and downstream natural gas market regulator, to approve its energy licence.
If the license is granted, Tesla plans to start delivering energy to households and businesses across England, Scotland, and Wales as early as next year, which provides even more fuel for speculation in regard to the stock’s future performance.
Featured image via Shutterstock
