NEW YORK, Feb 26, 2026, 10:02 EST — Regular session
- Tesla shares slipped 1% to $413.23 just after the open, after finishing the previous session at $417.40.
- Tesla hasn’t reported the autonomous testing miles in California that regulators typically require for advanced robotaxi permits, a new report pointed out.
- A director outlined plans to sell shares, as a U.S. judge cleared an employment-bias suit to move ahead
Tesla (TSLA.O) dipped 1% to $413.23 out of the gate on Thursday, down from a $417.40 close, with new uncertainty over the robotaxi launch keeping pressure on the stock. 1
Much of Tesla’s valuation hangs on its autonomy push, yet according to Reuters, the company reported zero autonomous test miles on California roads in 2025—marking six years running with none logged. Tesla also hasn’t moved past a basic drivered testing permit or applied for anything more advanced from state regulators. Under draft California DMV rules, firms would need to rack up at least 50,000 test miles with a safety driver before trying for driverless approval, the piece noted. Tesla, for its part, has pitched “Full Self-Driving” (FSD) as a driver-assist, not true autonomy. University of South Carolina law professor Bryant Walker Smith, who studies self-driving regulations, told Reuters that while Tesla has acted “as if they are ready and regulators are not,” in reality, “regulators are ready, and they are not.” 2
Tesla gave back some ground after a big run that had shares just shy of $417. Traders continue to bet robotics and robotaxis will be enough to offset sluggish momentum in Tesla’s main auto segment. But not everyone’s buying it—GLJ Research analyst Gordon Johnson, a longtime Tesla bear, told Barron’s the whole Optimus robot angle is a “delusion.” 3
Another detail landed in Wednesday’s disclosures: Tesla director Kathleen Wilson-Thompson put in a Form 144, signaling plans to unload 25,731 shares worth roughly $10.5 million. According to the paperwork, the planned sale connects to a Rule 10b5-1 plan—those preset trading strategies—put in place on Nov. 26, 2025.
Legal concerns are cropping up too. In San Francisco, a U.S. judge declined to toss out a proposed class action that claims Tesla showed bias against U.S. citizens in its hiring practices. The judge noted skepticism about the lead plaintiff’s chances, but the suit moves forward anyway. Both Tesla and lawyers for the plaintiffs stayed silent when Reuters asked for comment. 4
Stocks struggled for direction out of the gate in the U.S., as traders weighed fresh results from major tech names and took the market’s temperature on risk. The S&P 500 slipped a bit, and the Nasdaq also traded in the red early on, according to the Associated Press. 5
Timing is still the big wild card for Tesla. Should California permitting stall out—or if regulators clamp down after a safety mishap—the revenue boost from robotaxis and autonomy could be delayed once more, forcing the stock to rest even more on future hopes.
Eyes are on whether Tesla puts together a public California testing record or seeks higher permits next, as traders look ahead to the company’s next earnings event. Zacks’ calendar marks April 28 for Tesla’s upcoming quarterly results. 6
