Tesla (TSLA) is on the rise on Monday, with the stock trading up 1.12% at press time. In the past week, the Musk-led car manufacturer began expansion of its Robotaxi service, rolling out the service in New York City. Tesla Robotaxis follow Waymo’s launch from earlier this summer, and the move appears to be garnering the interest of investors, sending shares higher.

The last six months have been rough for Tesla’s TSLA stock, trading down 5.6% in that span. The Robotaxi launch in June and expansion in the last month have helped the company’s revenue and stock growth. While the streak ended late last week, TSLA also rode a six-day streak of gains on the market. As a result, the stock is targeting a breakout driven by anticipated earnings growth and robust demand.

Musk and Tesla’s Robotaxi in Focus

Elon Musk has been keenly training his Robotaxi cars to work in sync with the AI instructions and autopilot mode. His vision to spearhead the Robotaxi decision also represents a strong use case for the future, where AI is set to dominate the majority of work and mundane chores. In addition to this, Ark Invest’s Cathie Wood had also shared similar views about Tesla, adding how the firm is primed for a $10B valuation. “We believe that the entire ecosystem associated with autonomous taxi networks is going to be worth $8-10 trillion in terms of revenue generation in the next 5-10 years,” she said last week. “To put that in context, the entire GDP of the world today is $113 trillion. So $10 trillion is going to move the needle.”

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Stock analysts are split on Tesla’s valuation; targets range from $276 to $410. The highest stock price target sits at $410 from Morgan Stanley. On the other hand, the lowest forecast comes in at $276 from KGI Securities. The current market price for Tesla (TSLA) stock is $340.84. However, most projections are that Tesla will continue to outperform expectations for the remainder of August.

Meanwhile, Elon Musk’s legal threats against Apple and the ongoing shareholder lawsuit could detract from Tesla’s focus, raising concerns about the company’s strategic direction. This has played a part in Tesla stock’s success before, with Musk’s venture into politics sending TSLA falling in share price earlier this year.