Tesla Stock Is Rallying Tuesday: What's Going On?

Adam Eckert

May 21, 2024

Tesla Inc (NASDAQ:TSLA) shares are trading higher. The EV maker on Tuesday increased its 72 month loan rate in the United States.

What Happened: Tesla has increased its 72 month loan rate (APR) in the U.S. from 0.99% to 1.99%, according to Benzinga Pro. The loan rates for 36, 48 and 60 month loan terms are still set at 0.99%.

The move from Tesla is a positive sign for EV demand as it suggests Tesla is easing some of the levers it pulled in order to help spark buyer demand amid increasing competition.

Don’t Miss: Tesla Price Cuts Backfiring? European Rental Companies Fume As EV Giant’s Used Car Values Plummet, Service Leaves Bad Taste

Tesla shares may also be getting a lift on Tuesday after a senior manager at PepsiCo Inc (NASDAQ:PEP) announced that Tesla is set to deliver 50 more Semi trucks to Pepsi’s California facility. A PepsiCo spokesperson told Benzinga in January that the company had 36 Tesla Semis deployed in its fleet.

Reuters also reported on Tuesday that PepsiCo was set to expand its fleet with the introduction of 50 Class 8 Tesla Semi trucks and 75 Ford Motor Co (NYSE:F) E-Transit electric vans over the next several months.

Finally, several reports this week indicated that a group of Tesla shareholders are urging investors to vote against Tesla CEO Elon Musk’s $56 billion pay package. Tesla’s annual shareholder meeting is scheduled for June 13.

The compensation plan, which shareholders approved in 2018, awarded Musk Tesla shares for reaching operational targets and growing Tesla’s market cap to certain levels.

“Even as Tesla’s performance is floundering, the board has yet to ensure that Tesla has a full-time CEO who is adequately focused on the long-term sustainable success of our company,” the group reportedly wrote in a letter on Monday, arguing that Musk has been too focused on other ventures and failed to prioritize Tesla’s interests.

Tesla shares had been under pressure leading up to earnings last month. Despite missing analyst estimates on the top and bottom lines, Musk downplayed the quarter and reiterated his vision for the future around AI, Full Self-Driving and robotaxis. Tesla shares are up about 25% since.

TSLA Price Action: Tesla shares were up 4.67% at $183.12 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Tesla.

Recommended

Single Stock Blueprint Available Now - Ad

Former Trump Advisor: "This Could Destroy Families" - Ad

Do NOT Buy Nvidia, Apple, Microsoft, Meta, Tesla, or ANY Major Tech Stock... - Ad

One of the striking things about how furiously many people reacted to the news last week that MSNBC “Morning Joe” hosts Joe Scarborough and Mika Brzezinski was how quaint their defenders sounded.

Joe Rogan Says Harris Avoided Podcast Due To One Issue

Joe Rogan opened up about the reasons why an interview with Kamala Harris before the 2024 election never happened.

Has the Tech Stock Selloff Finally Arrived?

Has the Tech Stock Selloff Finally Arrived? - Ad

After soaring over 150% in 2024 alone... is it actually time to buy Nvidia? A 50-year Wall Street veteran gives his answer to Nvidia, right here...Including the name and ticker of one under-the-radar AI stock to buy instead of Nvidia... before Tuesday, December 3rd.

Stocks to Buy (and Sell) Before Inauguration Day

Experts predict Trump's policies will positively affect energy, finance, defense sectors; stocks to buy include EPD, JPM, LMT, while others may decline.

Palantir Board Member In A Deleted X Post Said Nasdaq Move Will 'Force Billions In ETF Buying And Deliver Tendies': Here's What This Meme-Stock Term Means

Palantir Technologies Inc has been making headlines after its board member, and partner at 8VC, Alex Moore deleted his X (formerly Twitter) account after saying in a tweet that its move to Nasdaq will "force billions in ETF buying."

Top Choice for Tech-Savvy Investors

Top Choice for Tech-Savvy Investors - Ad

Exploring the next wave of electric aviation stocks? This company is leading the charge with its innovative approach to electrification and strong industry ties.

Zuckerberg dines with Trump in Mar-a-Lago

FORT LAUDERDALE, Fla. (AP) — Donald Trump dined on Wednesday with Meta CEO at the president-elect’s Mar-a-Lago club in Florida, bringing together the Facebook founder and the former president who was once banned from that social network.

Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees 'Significant Shift' From BTC Season To Alt Season

Leading cryptocurrencies powered down for Thanksgiving as signs of an incoming alt season emerged.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Hyundai recalling over 226,000 cars and SUVs to fix rearview cameras that can fail

DETROIT (AP) — Hyundai is recalling more than 226,000 SUVs and small cars in the U.S. because the rearview camera image may not show up on the screens.

China's aging population fuels 'silver economy' boom, but profits can prove elusive

HONG KONG (AP) — Every Wednesday, retiree Zhang Zhili travels an hour by bus to an education center, drawn by the pulsing rhythms of the African drum she plays there in a classroom filled with fellow retirees whose hands move in unison, every beat lifting her spirits.

$1 Electric Aviation Stock With Tremendous Potential

$1 Electric Aviation Stock With Tremendous Potential - Ad

The electric aviation market is just taking off, and this company is at the forefront. With significant revenue and strategic partnerships, this stock is poised to make a big impact.

Walmart's DEI rollback signals a profound shift in the wake of Trump's election victory

NEW YORK (AP) — Walmart's sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at U.S. companies that are re-evaluating the legal and political risks associated with bold programs to bolster historically underrepresented groups.

As Tesla Rides Trump Rally, Cathie Wood Sells $15.4M Worth Of Stock

On Tuesday Nov 19, 2024 Cathie Wood sold $15.4 million worth of Tesla shares.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Kissing the ring? MSNBC 'Morning Joe' hosts say they met with Trump to reopen lines of communication

MSNBC hosts Joe Scarborough and Mika Brzezinski, fierce critics of President-Elect Donald Trump, say they traveled to Mar-a-Lago for a meeting with him to reopen lines of communication that would better serve their morning show viewers.

Mike Tyson Discloses Near-Death Experience Before Jake Paul Fight

In a shocking revelation, boxing legend Mike Tyson disclosed that he had a near-death experience just months before his fight with Jake Paul.

Why Do So Many Billionaire Investors Seem Scared of This Bull Run?

Why Do So Many Billionaire Investors Seem Scared of This Bull Run? - Ad

Well-connected billionaires like Warren Buffett have been selling off US stocks at an alarming rate. Today, one of America's most trusted market experts is stepping forward to explain what's really going on behind the scenes of this bull market - and why you could soon face losses of 50% or more if you do nothing.

What will happen to CNBC and MSNBC when they no longer have a corporate connection to NBC News?

Comcast's means that there will soon be two television networks with “NBC” in their name — CNBC and MSNBC — that will no longer have any corporate connection to NBC News.

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

A $50 Backdoor Play On Elon's Next "Super-IPO"?

A $50 Backdoor Play On Elon's Next "Super-IPO"? - Ad

Elon Musk has become Trump's most trusted advisors. According to one legendary investor... We are leading up to the world's first "Super-IPO" -- a company creating over $100 billion on the first day it goes public! Knowing about this "backdoor" play could be the best way to profit before the IPO...Starting with as little as $50.

Canada is already examining tariffs on certain US items following Trump's tariff threat

TORONTO (AP) — Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products, a senior official said Wednesday.

Pakistan's top cleric says use of VPNs is against Islamic laws as the government seeks to ban them

ISLAMABAD (AP) — Pakistan's top body of clerics has declared the use of virtual private networks, or VPNs, against Islamic laws, officials said Monday, as the Ministry of Interior sought a ban on the service that helps people in countries with tight .

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined - Ad

Forget rockets or brain implants... Elon's new AI product could be his biggest invention yet. Jeff Brown tried it himself recently and caught his experience on camera. See this footage because according to Tesla Magazine, this new product "could well shape the technological and economic future of our society."

Financial Analyst Says Bitcoin Could Soar To $250,000

Tom Lee, a well-known financial analyst, has predicted that Bitcoin‘s (CRYPTO: BTC) price could soar to $250,000 within the next year, driven by potential legitimization in the U.S. and increased adoption.

Apple Partnership, AI Agents, And Major Infrastructure Investments: OpenAI Executives Outline Strategy To Attract 1B Users By 2025

OpenAI aims to reach 1 billion users by 2025 through innovative AI products, a partnership with Apple, and extensive infrastructure investments, while positioning itself as a U.S.-led AI leader in a competitive global landscape.

Forget Nvidia, Apple, Tesla, and Google

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

VinFast Powers Ahead: Q3 Sales Surge 49%, Vehicle Deliveries Double & More

VinFast reports Q3 results that came above expectations. The company, which is focused on balancing revenue growth and optimizing costs, reiterated its annual delivery target of 80,000 vehicles.

Israel-Hezbollah Ceasefire Violations Spark Tensions, IDF Strikes Southern Lebanon: Oil Prices Surge

Israel's ceasefire agreement with Hezbollah which entered into force on Wednesday appears to be unraveling after alleged violations by the Lebanese militant group prompted an Israeli military response.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Macy's says employee hid up to $154 million in expenses, delays Q3 earnings

Macy's reported weaker-than-expected preliminary sales for the fiscal third quarter and said it's delaying the release of its quarterly earnings results after it discovered an up to $154 million accounting-related issue.

Cannabis Wholesale Platform Nabis Launches In New York, Opens Two Warehouses Creating 100 Jobs

Cannabis wholesale platform Nabis has launched in the New York cannabis market. The move officially marked its status as a bicoastal operator."Expanding to New York is about more than moving into a new market — by planting our roots on the East Coast, we're laying the groundwork for our next chapter of building the national wholesaling infrastructure for brands and retailers across America," Vince C. Ning, CEO and co-founder of Nabis, said. Going forward, Nabis' wholesaling technology will provide rapid order fulfillment, payment processing, customer service and compliance to N

Crypto Stocks Are Heating Up

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

Federal Reserve officials signal cautious path for rate cuts amid still-high inflation

WASHINGTON (AP) — With inflation still elevated, Federal Reserve officials expressed caution at their about cutting interest rates too quickly, adding to uncertainty about their next moves.

What to stream: Michael Fassbender spies, yacht rock doc, Ben Stiller, the Beatles and Lindsay Lohan

The Oscar-nominated animated charmer “Robot Dreams” and Lindsay Lohan starring in the Christmas romantic comedy “Our Little Secret” are some of the new television, films, music and games near you.

Crypto Stocks Are Heating Up

Crypto Stocks Are Heating Up - Ad

Canada Prepares Retaliatory Tariffs After Trump Threats: Analysts Warn Of Further Loonie Weakness

Canada prepares for potential tariffs on US goods following Trump's threats. Discussions underway to target certain items if tariffs are enacted.

Stock Of The Day: Autodesk Beats Earnings As Shares Find Support At This Level

Shares or Autodesk (ADSK) are trading lower despite beating earnings. Some investors are selling over concerns of reduced margins.

Watch Jeff's New Demo: Elon Musk's New $9 Trillion AI Product

Watch Jeff's New Demo: Elon Musk's New $9 Trillion AI Product - Ad

Why is Jeff Brown blindfolded and with his hands tied behind his back? It's all part of a crazy experiment involving a Cybertruck. See this demo because if Jeff is right... Elon Musk could make a lot of people rich with his new AI technology.

Dogecoin Is 'Harder Money' Than Bitcoin, Says Raoul Pal: Here's What The Numbers Say

Dogecoin (CRYPTO: DOGE) rallied 17% over the past week, spurred by speculation around Elon Musk's X Payments platform potentially incorporating DOGE.

Trending Now