Tesla shares moved upward on Monday, showing a positive reversal and notable intraday volatility following a sharp sell-off in the previous session. The primary catalyst supporting the stock is the company’s expansion of its commercial Robotaxi service to Miami, following its initial rollout in Austin. By deploying autonomous Model Y vehicles equipped with Full Self-Driving software to a second major U.S. city, Tesla is moving faster into direct competition with established ride-hailing services. This rapid operational scaling has reinvigorated investor optimism regarding the monetization of the company’s autonomous vehicle pipeline, which is key to justifying its premium valuation.

This progress on autonomy comes on the heels of a…