Tesla Inc (NASDAQ:TSLA) shares are trading higher on Wednesday. Here’s a look at the biggest Tesla-related news driving investor attention today.
- Tesla stock is trading near recent highs. What’s next for TSLA stock?
Lemonade Cuts Insurance Rates for Tesla FSD Miles
Lemonade announced the debut of its new Lemonade Autonomous Car insurance, a first‑of‑its‑kind product built specifically for self‑driving vehicles, beginning with Tesla’s Full Self‑Driving (FSD) system.
The insurance cuts per‑mile costs for FSD‑engaged driving by roughly 50%, reflecting data that shows meaningfully lower risk when the vehicle is operating autonomously. Lemonade says rates could fall even further as Tesla continues rolling out FSD software improvements.
The launch stems from a technical collaboration with Tesla, giving Lemonade access to vehicle‑level data that wasn’t previously available.
“Traditional insurers treat a Tesla like any other car, and AI like any other driver,” said Shai Wininger, Lemonade’s co‑founder and president. “But a car that sees 360 degrees, never gets drowsy, and reacts in milliseconds can’t be compared to a human.”
Tesla Denies Workforce Reduction Reports
Tesla also pushed back on a media report claiming its Berlin gigafactory had experienced a significant reduction in staffing, saying there has been no notable decline in permanent employees and no plans for job cuts, Reuters reported.
“The message from factory management remains: the situation and outlook at the gigafactory are stable — especially with regard to employee jobs,” the company said.
Potential SpaceX IPO Nears
SpaceX is also generating headlines, with reports suggesting the company is weighing an initial public offering, partly tied to Elon Musk’s ambitions to build AI‑focused data centers in space, according to the Wall Street Journal. Such a move could raise billions for the effort and help Musk’s AI venture, xAI, compete with rivals like OpenAI and Anthropic, which are also exploring potential IPOs this year.
While SpaceX and Tesla operate independently, the possibility of a SpaceX IPO has stirred interest among Tesla investors. The overlap between Musk’s companies and broader enthusiasm around his ventures may be adding to the positive sentiment in Tesla shares.
A Closer Look At TSLA Stock
Tesla stock is currently trading 6% below its 20-day simple moving average (SMA) and 1.1% below its 100-day SMA, indicating some short-term weakness. Over the past 12 months, shares have increased by a modest 0.15%, but they are currently positioned closer to their 52-week highs than lows, reflecting a longer-term bullish trend.
The RSI is at 36.19, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD is below its signal line, indicating bearish pressure on the stock, which traders should keep an eye on.
The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that while the stock has some support, it may face challenges in gaining further traction.
- Key Resistance: $499.00
- Key Support: $424.50
TSLA Price Action: Tesla shares were up 1.54% at $425.74 at the time of publication on Wednesday, according to Benzinga Pro.
Image: Shutterstock
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