On November 18, 2025, Tesla shares closed at $401.25, down 1.88%, snapping a two-day winning streak as the company secured an Arizona permit to operate a paid ride-hailing service with human safety drivers. This move comes amid heightened competition with Alphabet’s Waymo, which is expanding its own robotaxi operations, fueling investor concerns about Tesla’s position in the autonomous vehicle race. Despite a recent price target upgrade from Stifel, bearish sentiment persisted as the Arizona permit does not yet allow fully driverless operations. CEO Elon Musk attempted to reassure investors by highlighting the potential for a 'major valuation change' once unsupervised self-driving is achieved at scale.