Al Root

Wall Street is warming to Tesla’s self-driving robotaxi opportunities, leading to higher stock-price targets for the EV maker. China sales data are upbeat.

Wall Street is warming to Tesla's self-driving robotaxi opportunities, leading to higher stock-price targets for the EV maker. China sales data are upbeat.

Shares of Alphabet took off early Tuesday. It isn’t clear exactly why, but the move is still a useful reminder that there is a lot more to the company than Google. Alphabet stock was up almost 6% at $185.78 a share in early trading while the was up 0.1% and was off about 0.1%.

Boeing investors must have have been waiting with bated breath for 737 MAX production to restart. How the production ramp-up proceeds is a much bigger deal. The MAX production restart seems to have done it.

Wall Street is warming to Tesla’s self-driving robotaxi opportunities, leading to higher stock-price targets for the EV maker. China sales data are upbeat.

The Detroit Three car manufacturer said it would “no longer fund Cruise’s robotaxi development work.”

Coming into Wednesday trading, Tesla stock was less than $9 away from its all time closing high of $409.97 and less than $14 away from its all time intraday high of $414.50.

Tesla stock hit an all-time intraday high Wednesday as it rose for a sixth-consecutive session, with investors anticipating a record close for the shares. Over the past five years, the shares have been above the average target price more than half of the time.

The fallout from General Motors ’ decision to move away from self-driving robotaxis is starting to spread. Microsoft said on Wednesday it would take an $800 million charge to write down its investment in Cruise—GM’s troubled robotaxi unit. Cruise lost its license to drive in California in October 2023 after a Cruise robotaxi dragged a pedestrian.

GE Aerospace hiked its dividend 250% in April; GE HealthCare raised its 17% in November; and GE Vernova just initiated a payout.