Tesla Robotaxi LLC is now listed as a transportation network company licensee on Texas’s Department of Licensing and Regulation website.
Retail sentiment around Tesla Inc. (TSLA) jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours on Stocktwits after the EV giant was granted a rideshare licence in Texas on Friday.
Tesla Robotaxi LLC is now listed as a transportation network company licensee on Texas’s Department of Licensing and Regulation website. The list comprises ride-sharing companies authorized to operate in Texas and includes other companies like Lyft Inc. and Wingz Inc.
Tesla has the largest number of watchers on Stocktwits. Shares of the company traded 3% higher at the time of writing.
A Stocktwits user opined that the stock will trade over $330 until the next major news on the stock.
Another user believes that robotaxis will not be able to offset the loss of the federal tax credit of $7,500 on several of its vehicle models in September.
According to a report from Bloomberg, the license became required under a new state law that regulates rideshare operations using autonomous vehicles in the same way as those services using human drivers. The new policy adds additional permitting, oversight, and requirements for operators of autonomous vehicles and takes effect on September 1, the report noted.
Tesla pilot launched its robotaxi rideshare service in a small area within Austin, Texas, in June. The vehicles have a “safety monitor,” or an individual in the front seat, to potentially intervene if necessary.
TSLA stock is down by about 18% this year but up by about 66% over the past 12 months.
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