Why Tesla (TSLA) Stock Is Trading Up Today

What Happened?

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 4.4% in the afternoon session after the stock's positive momentum continued as reports revealed a significant Cybertruck purchase by Elon Musk's SpaceX. 

The electric vehicle maker's stock rebounded after it was revealed that SpaceX bought tens of millions of dollars' worth of Cybertrucks. This move was seen as a way to boost demand, as it was reported that demand for the truck had not yet met Tesla's planned production capacity. Adding to the positive news, Tesla's energy arm also made headlines. The company entered a three-year European agreement with French services provider SPIE SA to deliver battery energy storage system projects using its Megapack solutions.

After the initial pop the shares cooled down to $487.21, up 4.1% from previous close.

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What Is The Market Telling Us

Tesla’s shares are extremely volatile and have had 41 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 3 days ago when the stock gained 3.8% on the news that Wedbush analyst Dan Ives reiterated his $600 price target, declaring 2026 a pivotal "monster year" for the EV giant. 

Ives argued that Tesla is "taking major steps in advancing its AI Revolution path," with autonomy and robotics set to be the "game changer" that defines the company's future. Optimism was further strengthened by reports of driverless Model Y testing in Austin, validating the thesis that the robotaxi timeline is accelerating.

Tesla is up 28.5% since the beginning of the year, and at $487.21 per share, it is trading close to its 52-week high of $489.88 from December 2025. Investors who bought $1,000 worth of Tesla’s shares 5 years ago would now be looking at an investment worth $2,103.

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