Tesla stock shot to the top of the S&P 500 on Monday. Shares rose more than 5% over the course of the day, according to MarketSurge.
There was no immediate catalyst for the stock. However, a series of developments over the weekend may have been responsible for the rally. CEO Elon Musk made comments about future updates to Tesla's self-driving software. When an X user said they would like their "Tesla to be able to avoid potholes," Musk replied: "Coming soon."
Any remarks about upgrades to Full Self-Driving tend to catch investors' attention, given the software's importance to Tesla's future.
Musk also hinted at an imminent release of Cybercabs in Austin, Texas. The long-awaited launch of Tesla's robotaxi-specific EV model would be a notable milestone for its still nascent service. Last month, when Musk and team, told investors the robotaxi expansion would be slow, the stock tanked.
Stock Market Today: Dow Skids, Oil Stock Tests Entry
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There was no immediate catalyst for the stock. However, a series of developments over the weekend may have been responsible for the rally. CEO Elon Musk made comments about future updates to Tesla's self-driving software. When an X user said they would like their "Tesla to be able to avoid potholes," Musk replied: "Coming soon."
Any remarks about upgrades to Full Self-Driving tend to catch investors' attention, given the software's importance to Tesla's future.
Musk also hinted at an imminent release of Cybercabs in Austin, Texas. The long-awaited launch of Tesla's robotaxi-specific EV model would be a notable milestone for its still nascent service. Last month, when Musk and team, told investors the robotaxi expansion would be slow, the stock tanked.
Stock Market Today: Dow Skids, Oil Stock Tests Entry
#Stock
2 days ago
