Stock prices quickly incorporate all available new information. That’s what economists mean when they use the term “market efficiency.” For the Austin robotaxi event next week, the market already assumes the launch will be successful i.e. uneventful, with routes pre-mapped, challenging intersections avoided, and tele-operators supervising the vehicles 1:1 to start. If there are no unintended events, there may be some upward movement in the $Tesla(TSLA.US) stock price. If there are unintended events that result in injury or damage, we would expect $Tesla(TSLA.US) stock to decline, potentially significantly, given TSLA stock’s +33% appreciation in anticipation of the Austin launch since 1Q earnings released April 21. Any suggestion that Trump will throw the weight of the Presidency behind a national unsupervised autonomy standard could propel TSLA much higher.