Tesla Stocks Surge as Optimus Robot Developments Drive Market Momentum

Word on the StreetMonday, Nov 11, 2024 1:00 am ET

1min read

On November 11th, Tesla-related stocks displayed robust performance in the morning trading session. Companies such as Top Group, Huagong Tech, and Xusheng Group all hit their daily price limits, while Tianqi Mold saw significant gains, nearing a four-day streak of trading limits. Additionally, firms like Shiyun Circuit and Sanhua Intelligent Controls showed strong market vitality.

This surge is associated with the latest developments from Tesla's CEO, Elon Musk. Musk revealed on social media that Tesla is optimizing the design of its Optimus robot to address key production challenges. He mentioned that Optimus is already handling some responsibilities within the factory and its applications are rapidly expanding. The primary challenge currently is how to simplify the design of Optimus for mass production while building a complex supply chain system to support large-scale manufacturing.

Significantly, in the cost structure of the humanoid robotics industry chain, assemblies and lead screws account for more than 15% of the composition. The production of these critical components involves several listed companies, including Top Group, Sanhua Intelligent Controls, Qin Chuan Machine Tool, Hengli Hydraulic, Bestech, Wuzhou New Century, Beite Technology, and Redick.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.