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Tesla CDR (CAD Hedged)
Symbol TSLA
Shares Issued 26,500,000
Close 2026-07-23 C$ 27.90
Market Cap C$ 739,350,000
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Globe/wire say Tesla punished for lame robotaxi rollout

2026-07-24 08:42 ET - In the News

The Globe and Mail reports in its Friday edition that a year ago, Tesla's Elon Musk said the company's robotaxi network would expand at a "hyperexponential rate" and be available to half the population of the U.S. by the end of 2025. On Wednesday's earnings call, Mr. Musk and his executive team struck a more guarded tone as they fielded analysts' questions about a slower-than-expected rollout. The robotaxi update likely contributed to a steep sell-off in Tesla shares on Thursday. Tesla's stock price, which had fallen 17 per cent this year as of last close, closed down 14.5 per cent in afternoon trading. "More is needed to show that Tesla's capabilities are inflecting" on robotaxis, Barclays analysts said in a note, adding that Tesla provided no new expansion targets and "hasn't met previously laid out targets." Since launching a small robotaxi pilot in Austin in June, 2025, Tesla has expanded to only a handful of other cities, in Texas and Florida. In January, Tesla said that its robotaxis would expand to seven metro areas by the end of June: Dallas, Houston, Phoenix, Miami, Orlando, Tampa and Las Vegas. Up until Tuesday, Tesla had only launched limited service in three of those cities: Dallas, Houston and Miami.

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