Tesla's shares rose 3.2% as Optimus production began

Tesla shares rose 3.2% in morning trading to $359.85, as investors responded positively to the company's move to the production phase for its humanoid robot, Optimus.

Optimus production has begun at Tesla's Fremont, California factory. Initially, the robots will be used within Tesla's own facilities and will take part in a closed-loop training program the company calls "Optimus Academy." The idea is that deploying the robots in a real production environment will, over time, improve their capabilities as well as factory efficiency.

Positive sentiment is also being reinforced by a special investor event Tesla has scheduled for September 24 for the Semi electric truck, which is being viewed as a significant near-term catalyst for the company.

In addition, Tesla introduced a cheaper rear-wheel-drive Model 3 in Hong Kong, with a starting price of about $26,000 — 8.5% lower than the previous base version. The company also released a similar model in Macau, signaling an effort to attract a broader customer segment in the Asian market.

Tesla's gains stand out particularly against a weak broader market: the S&P 500 and Nasdaq Composite are trading in negative territory, while shares of EV competitors, including Rivian and Lucid Group, have also declined.

This suggests that today's rally in Tesla is being driven mainly by company-specific factors rather than an overall positive trend in the EV sector.

However, risks remain. Investors are watching changes in trade policy and the company's capital expenditures, especially given that Tesla's operating margin declined significantly in the most recent quarter.