Tesla Motors rose 5.83% in regular trading, trading at $377.84/share. The rally was driven by heightened investor anticipation surrounding the company's Cybercab launch event scheduled for the evening in Austin, Texas.

Tesla is officially unveiling its Cybercab, the company's first vehicle designed specifically for autonomous driving. The two-seat vehicle features butterfly doors and no steering wheel or pedals, and will run on a fully autonomous version of Tesla's Full Self-Driving software requiring no human supervision. Tesla began producing initial Cybercab units in April and has been testing the vehicle on public roads. According to the Texas Department of Motor Vehicles, 420 autonomous Tesla vehicles were registered in the state as of Wednesday evening.

Morgan Stanley noted that this event carries significance far beyond previous Tesla showcases, highlighting that the scale of Robotaxi fleet expansion will be a key variable for Tesla's stock price trajectory. The firm suggested that if Tesla deploys 25 to 50 Cybercabs for paid commercial operations in the coming days to weeks, the stock could see a positive reaction. However, Tesla has not yet confirmed whether it has secured the regulatory approvals or met the federal safety standards required for commercial operation of the service.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)