Tesla's stock price rose nearly 5% on Monday, with investors looking forward to Musk's announcement of an autonomous taxi.

Tesla's autonomous taxi plan triggered a stock price increase: Musk announced after the close of last Friday that he would launch the long-awaited autonomous taxi on August 8th, and Tesla's stock price rose nearly 5% on Monday.

This news was released after media reports claimed that Tesla had cancelled plans to build a long-awaited electric vehicle (some refer to it as the Model 2) priced below $30,000. Musk responded on X that the media that released the news "lied again" and subsequently announced the launch of an autonomous taxi, which is widely believed to have no steering wheel or pedals. However, whether Tesla will ultimately launch low-cost electric vehicles remains an unresolved issue.

Analysts have mixed reactions to this news: Emmanuel Rosner from Deutsche Bank stated that the news of autonomous taxis is a significant change in Tesla's investment argument. He believes that if news about the Model 2 is confirmed again, Tesla's bullish argument may be that, given the stable improvement of its autonomous driving technology, Tesla has decided to leverage its unique artificial intelligence and software advantages by focusing on autonomous taxis, which are difficult for a few original equipment manufacturers to imitate and will bring more favorable economic benefits.

ARK Invest is optimistic about Tesla's long-term potential: Tasha Keeney of ARK Invest believes that Tesla's long-term potential is closely related to self driving and autonomy. She mentioned that Tesla has an unparalleled data advantage in accumulating self driving data, which is the key to solving the problem of fully autonomous driving. Cathie Wood, founder of ARK Invest, recently reiterated her price target of $2,000 for Tesla, predicting that the effort to drive autonomous taxis will bring in $10 trillion in revenue.

Doubts about autonomous taxis: On the other hand, Craig Irwin of Roth Capital holds a more skeptical attitude towards autonomous taxis. He believes that the daily rise of stocks is more technical in nature, rather than based on fundamentals. Irwin suspects that Tesla's vehicles require more advanced sensors, cameras, and other devices to truly achieve fully autonomous driving, and believes that the obsession with "cyber taxis" masks the company's larger fundamental problems, such as insufficient demand and fierce competition.