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Tesla Jumps 7% as Cybercab Launches in Austin With No Steering Wheel and No Pedals
Tesla, Inc. $TSLA
$376.28+5.37%as of publication
- 5D Change
- +6.05%
- Market Cap
- $1.41T
Tesla shares surged as much as 7% on September 3, their best single-day gain in months, as investors positioned ahead of and then witnessed the company's long-awaited Cybercab launch event in Austin, Texas. The stock had already climbed roughly 18% over the prior 30 days, and a leveraged Tesla-tied ETF added 11% on the day. Options volume erupted, with Tesla ranking as the fourth-most traded stock by options volume, as retail and institutional traders piled into bullish bets.
The Cybercab, a two-seater autonomous vehicle with no steering wheel and no pedals, was formally launched in Austin on the evening of September 3, exclusively in that city to start. Elon Musk had previewed the event by touting a coming "storm" of Cybercabs and citing their superior operational efficiency. The vehicle was first unveiled on a Hollywood studio lot in October 2024, making the Austin event the first substantive operational update in nearly two years.
On the regulatory front, France began road tests on two Tesla vehicles to assess the Full Self-Driving system, with French Transport Minister Philippe Tabarot confirming the move as a step toward potential EU approval. StoneX analyst Mickey Legg reiterated his Tesla rating around the Cybercab launch and set a 12-month price target at the stock's all-time high. Morgan Stanley separately noted that Tesla's next directional move is tied directly to the Cybercab rollout.
On the sales side, Tesla reported 7,685 deliveries in Australia in August, up 163% year over year and the company's second-highest monthly total there ever. The Model Y accounted for 6,414 of those deliveries, up 176%, and has been Australia's best-selling vehicle of any kind in recent months. Tesla has now delivered more than 36,000 cars in Australia so far in 2026.
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- WallstengineToday's Key Events (All EST) — 09/03/2026 $TSLA Cybercab launch event 05:30: US Challenger Layoffs 08:30: US Initial Jobless Claims 08:30: US Trade Balance 08:30: Fed's Waller 09:45: US S&P Services PMI Final 10:00: US ISM Services PMI 15:00: Fed's Hammack 15:05: Fed's Goolsbee Before Open 👇 05:45: Duluth Holdings $DLTH 06:00: BRP $DOO 06:45: Lands' End $LE 06:50: Genesco $GCO 07:00: Ciena $CIEN 07:00: Victoria's Secret & Co. $VSXY 07:00: Brady $BRC 07:15: The Campbell's $CPB 07:30: John Wiley & Sons $WLY 08:30: The Toro $TTC BMO: Polestar $PSNY After Hours 👇 16:05: Docusign $DOCU 16:05: Zscaler $ZS 16:05: lululemon athletica $LULU 16:05: Ambarella $AMBA 16:05: Asana $ASAN 16:05: Guidewire Software $GWRE 16:05: Smith & Wesson Brands $SWBI 16:05: Concrete Pumping Holdings $BBCP 16:05: American Outdoor Brands $AOUT 16:05: Torrid Holdings $CURV 16:05: Oxford Industries $OXM 16:10: UiPath $PATH 16:10: Samsara $IOT 16:10: Planet Labs PBC $PL 16:15: Quanex Building Products $NX Follow @wallstengine for detailed earnings highlights from many of these companies throughout the day.
- MarketsdayTesla sold 7,685 cars in Australia in August, up 163% from a year ago. That is Tesla's second-highest sales month ever in Australia. The Model Y did most of the work with 6,414 deliveries, up 176%, over 80% of Tesla's August total. The Model 3 added 1,271. Tesla has now delivered more than 36,000 cars in Australia so far this year. The Model Y is on a roll there. It was Australia's best-selling car of any kind, not just EVs, in both May and June. Source: Australian sales data (VFACTS)
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- nypost.comTesla teases driverless Cybercabs with ‘no steering wheel, no pedals' ahead of secretive Austin event
- marketwatch.comTesla's stock is rallying as investors prepare for a ‘storm of Cybercabs'
- MarketwatchTesla’s stock is rallying as investors prepare for a ‘storm of Cybercabs’
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