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Tesla launched its robotaxi service in Austin, Texas last month
Tesla (TSLA) could expand its robotaxi service to San Francisco as early as this weekend, according to a report Friday. Its stock gained, making up some of its losses from the day before.
Tesla shares added 3.5% Friday, but still logged a losing week after tumbling nearly 8% Thursday on a weaker-than-expected earnings report. The electric vehicle maker's profits declined for a second straight quarter, as Tesla has seen sales fall in key markets like the U.S. and China.
Tesla could be prepared to roll out its robotaxis in San Francisco as early as this weekend, after their launch in Austin, Texas last month, Business Insider reported Friday, citing an internal memo to staff. The test program will operate in a geofenced area that includes a large portion of the Bay Area, the report said.
Tesla did not immediately respond to an Investopedia request for comment on the report.
Separately, a trio of Cathie Wood's ARK Invest ETFs collectively bought more than 140,000 shares of Tesla for nearly $44 million on Thursday, according to an Investor's Business Daily report.
The longtime Tesla bull's ARK Invest purchased more than 115,380 shares on Tuesday, and 60,000 shares on July 18, an earlier IBD report said. Tesla is the top holding of the ARK Innovation ETF, making up nearly 10% of the fund’s weight.
This article has been updated since it was first published to reflect more recent share price values.
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