Tesla Shares Rise as Robotaxi Expands Service Hours and Fleet Size

Tesla shares rose on Thursday. The company's official Robotaxi account announced extended service hours and an expanded autonomous fleet, with the upcoming Cybercab further fueling the momentum.

Tesla shares are gaining positive traction. Why is TSLA stock rising?

Tesla Extends Robotaxi Service Hours and Expands Fleet

Tesla's Robotaxi team posted an update Wednesday saying passengers can now hail rides between 6 a.m. and 10 p.m. any day of the week in every city where the service currently operates. The post also claimed a notable expansion in the number of autonomous vehicles on the road, though it did not provide specific details on actual growth metrics.

Tesla also said it upgraded its intelligent systems for vehicle dispatch and route planning, reducing wait times for passengers.

According to Teslarati, the shift appears to be driven by a predictive dispatch system that anticipates where riders will need vehicles before they even open the app, sending cars to potential hotspot areas in advance rather than scrambling only after a ride request is made.

This mirrors the same predictive strategy Tesla already relies on in its autonomous driving neural networks, so applying these tools to fleet logistics is more of a repurposing than a brand-new endeavor.

The update comes as Tesla's purpose-built Robotaxi model—a compact two-seater with no steering wheel or pedals—is set to make its public debut in Austin on September 3, with expectations that these vehicles will soon be integrated into the broader Robotaxi fleet.

Tesla Stock in Repair Mode

Tesla shares remain in the middle of a long-term recovery process. The stock sits 11.8% below its 200-day moving average of $401.41 and 7.1% below its 100-day moving average of $380.88. The stock is also trading below its 50-day moving average of $361.41, making that level a key focus and the next real test for those betting on further gains from recent momentum.

The short-term picture looks healthier. The stock is about 5.1% above its 20-day moving average of $336.89, indicating that the recent rebound does have some genuine momentum support in the near term. However, the broader moving average alignment is not fully cooperative, with the 20-day average below the 50-day average, and the death cross that appeared in April serves as a reminder that the larger downtrend has not been completely reversed.

Momentum indicators paint a calmer picture. The relative strength index reads 53.48, sitting in neutral territory, no longer near the oversold levels touched in July or the overbought extremes of May. Essentially, this reading suggests the stock has room to move in either direction without appearing overextended.

Traders are watching resistance at $409.50, a prior top in the low $400 range that also aligns with where several longer-term moving averages cluster above; and support at $297.50, a level near the 52-week low where buyers have previously stepped in.

TSLA Shares Climbing

TSLA price action: As of Thursday's writing, Tesla shares were up 2.47% at $354.36.