Tesla shares have been on a roller-coaster ride lately, and one Wall Street bull has decided to step off, saying there are many reasons to be cautious right now. The electric-vehicle maker was cut to neutral from outperform by Baird Equity Research analysts Ben Kallo and Davis Sunderland on Monday.

Musk is seeking to reframe the perception of his business from a carmaker to a leader in robotics, AI and autonomous mobility; a Trump-Musk breakup was reasonably seen as creating a possible overhang...

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Now investors are looking for a win that can help repair the brand damage and shift Tesla back into growth mode.

The service will begin with Tesla's Model Y vehicles, rather than the Cybercab it unveiled last year. Tesla's robotaxi service appears slated to kick off as scheduled, at least according to Elon Musk.

Elon Musk says Tesla is “tentatively” set to begin providing robotaxi service in Austin, Texas, on June 22.

The date for the launch in Austin, Texas, could shift because Tesla is being “super paranoid about safety,” Musk said in a post on X late Tuesday.