Cybercab trademark setback sends Tesla stock lower

The U.S. Patent and Trademark Office reportedly refused Tesla’s 'Robotaxi' trademark and reports say 'Cybercab' was already claimed by a French company; the article says Tesla shares fell about 4% after the news.

Reports say Tesla faced trademark setbacks tied to names for its planned services, and market reaction followed. The U.S. Patent and Trademark Office reportedly refused the company's application to register "Robotaxi" on the basis that the term is too general. Separately, reports indicate a French beverage company, Unibev, had already claimed the name "Cybercab." The article links those trademark developments to a decline in Tesla’s share price on Tuesday. What is known: - The U.S. Patent and Trademark Office reportedly refused Tesla’s application to register the name "Robotaxi," citing that the term is too general to be trademarked. - Reports state that the name "Cybercab" was already registered by Unibev, a French beverage company, and some coverage describes the situation as trademark squatting. - The article reports that Tesla shares fell a little over 4% in Tuesday afternoon trading after the trademark news. - Local reports also describe a Tesla vehicle striking a building that houses a restaurant in Granada Hills; no arrests were reported and the circumstances remain unconfirmed. Summary: The reported trademark issues have been associated with an immediate market reaction for Tesla shares. The article does not detail further legal or procedural steps related to the trademark filings. Undetermined at this time.