Why Tesla stock and SpaceX jumped

Aug 31, 2026

A run of Elon Musk news lifted Tesla shares to a one-week high, a positive turn for investors after months of doubt about how fast robotaxis can grow.

  • Tesla launched a cheaper, stripped-down Model 3 in Hong Kong and Macau for about $26,000, aimed at fighting BYD and other rivals in Asia.
  • A Cyber Cab event on Thursday is expected to be the moment Tesla says self-driving taxis are ready to scale beyond a few dozen cars.
  • Vegas regulators lifted the cap to 5,000 robotaxis, though airport trips and a 45 mph limit still apply, and paid rides could start within a month.
  • SpaceX is planning a factory for turbine blades, the part holding up new gas power plants for AI data centers — that news knocked GE Vernova and Howmet shares down.
  • Building those blades is far harder than rocket engines, and permits plus a new foundry could eat up the time Musk is trying to save.

Outlook: Thursday's event is the near-term catalyst — a credible plan to put thousands of Cyber Cabs on the road would matter far more to the stock than the turbine push.

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