Alphabet Lacks Tesla’s Stock Buzz in Race for Driverless Rides

There’s a lot of investor excitement about driverless cars, yet Alphabet Inc.’s shares reflect little of that euphoria — even as its Waymo robotaxis proliferate in major US cities.

Waymo says its vehicles have driven more than 71 million miles without a human operator as the ride-hailing service expands across the country, but Alphabet shares have lacked the kind of buzz benefiting Tesla Inc. — whose stock jumped 8.2% on Monday after rolling out a rival product in Austin over the weekend, with just a handful of vehicles and some hiccups.