Uber Stock Is Slumping. Why Tesla Is to Blame.
Uber Technologies has another competitor to worry about, and that’s bad news for what has been one of 2025’s stock market darlings, one analyst says. Tesla is on track to launch a robo-taxi service in Austin on June 12, Bloomberg reported Wednesday, reaffirming plans CEO Elon Musk shared with CNBC’s David Faber in a television interview last week. Musk cautioned the rollout would be slow, beginning with a fleet of around 10 Model Y self-driving vehicles, but that number could tick up soon.