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

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump Issues Surprise Emergency Order - Ad

Why Are Wall Street Insiders Moving Their Money to This One Asset? - Ad

Popular

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Security Matters (SMX) Shares Jump Over 48% After Hours: What's Going On?

Security Matters PLC shares surged over 48% in after-hours trading following the company's presentation of its molecular identity technology.

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next - Ad

Trump's turning tiny mining stocks into overnight fortunes... and this little-known rare earths miner could be his next billion-dollar BUY. If Trump cuts a deal you could see a 50% to 200% pop overnight. But you must act before the next deal hits the wire.

Crypto Billionaire Justin Sun Says He Will Donate To Help Victims Of Deadly Fire In Hong Kong, Binance Announces $1.3 Million Support

Tron (CRYPTO: TRX) founder and cryptocurrency billionaire Justin Sun pledged his support for the victims of the devastating Hong Kong fire, promising a donation to aid recovery efforts.

These 8 Democrats voted with Republicans on the government shutdown deal. Here's how they explain it

WASHINGTON (AP) — The Democratic senators — eight in total — faced almost instant blowback from members of their own party as to allow the Senate to move forward on that would reopen the government.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after January 29, it may be too late.

Two National Guard Troops Shot Near White House, Reagan Airport Briefly Halts Flights

Two WV National Guard members were shot near White House. Suspect in custody, with non-life-threatening injuries. Trump vows retaliation, orders more troops. Flights briefly paused at Reagan National.

Warren Buffett Only Has Couple Of Rules For People Who Want To Work For Him, But Here's One Habit He Particularly Detests

Buffett instructs Berkshire Hathaway employees to think like owners and report bad news immediately. He values long-term investments and integrity.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit the most.

Asian shares are mixed in holiday-thinned trading with Wall Street closed for Thanksgiving

MANILA, Philippines (AP) — Asian shares were mixed Friday in holiday-thinned trading as tech stocks slipped as a recent rebound driven by hopes for an interest rate cut by the Federal Reserve lost steam.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Pichai Says Quantum Is Where 'AI Was 5 Years Ago' — Are Quantum Stocks The Next Moonshot Trade?

Google CEO Sundar Pichai predicts that quantum computing will be as big as AI in 5 years, signaling the start of a new investment wave.

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Are Markets Open On Thanksgiving? Here's What's Open And What's Closed On November 27

Find out what's open and closed on Thanksgiving and Black Friday 2025. Check hours for banks, USPS, FedEx, and stores in our holiday guide.

Wendy's to close hundreds of US stores in bid to halt falling profit

Wendy’s plans to close hundreds U.S. restaurants over the next few months in an effort to boost its profit.

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

Amazon's $150 Billion AI Capex Surge Could Force Its First Big Bond Deal In Years

Amazon may need to tap Wall Street for funds as it faces rising AI and data center spending, despite sitting on $84 billion in cash.

Zohran Mamdani Says No More Thanking Veterans Today, Forgetting Tomorrow — Trump, Obama And Others Express Gratitude For Service

America's top political and tech leaders — including Donald Trump, Barack Obama, Tim Cook, and Sundar Pichai — marked Veterans Day 2025 with tributes honoring the courage and sacrifice of U.S. service members.

Buy This Gold Stock Before the New Year

Buy This Gold Stock Before the New Year - Ad

America is about to see a massive shift in how regular people buy and store gold. Next year, the world's largest gold buyer is expected to launch a new way for everyday Americans to invest in gold with a simple tap on their phone - and it could go live in 2026. When it does, a tiny gold stock trading around $1.60 could explode.

Tesla Sets A New Sales Record, But Not In America

Tesla set several records in the third quarter. The company now has a big annual record set, but its not for the American market.

'Rich Dad Poor Dad' Author Robert Kiyosaki Warns Of Crash In BTC, ETH, Gold, Silves Prices, But Says He's Buying, Not Selling: Here's Why

Robert Kiyosaki, author of “Rich Dad Poor Dad,” has shared his investment strategy amid predictions of an economic downturn.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Scott Bessent Says No 'Formal Proposal' Yet From Trump On Plan To Scrap Obamacare As President Pushes For Direct Payments

No formal proposal for Obamacare replacement plan seen by Treasury Secretary Bessent, despite Trump's call to redirect funds to Americans.

Trump Barred From Deploying Oregon National Guard To Portland, Judge Cites State Sovereignty

A federal judge handed down a decisive ruling on Friday, blocking Trump's attempt to send Oregon's National Guard to Portland.

Trump Issues Surprise Emergency Order

Trump Issues Surprise Emergency Order - Ad

A new Trump emergency order just took effect. It could reset the U.S. economy, impact 65M Americans, and trigger a major wealth shift tied to a $257T force Buffett called the greatest transfer of wealth. Billionaires are already positioned. If you want in, time is short.

Donald Trump Fueled Bitcoin's Rise Beyond $100,000 — Can BTC Survive His 2028 Exit?

Bitcoin (CRYPTO: BTC) may face its biggest political stress test yet in 2028 when President Donald Trump leaves office and the pro-crypto admin

Palantir CEO Alex Karp Blasts Short Sellers Again As Stock Drops 11% This Week, Deems It 'Market Manipulation'

Palantir CEO Alex Karp takes aim at those betting against the stock as the software company's shares fell 11% this week.

Why Are Wall Street Insiders Moving Their Money to This One Asset?

Why Are Wall Street Insiders Moving Their Money to This One Asset? - Ad

Something far more consequential for your money than tariffs is unfolding behind the scenes... Tucked inside this overlooked directive is a plan set to be executed for the first time in in U.S. history. One Stansberry Research's Senior Partner says it's set to trigger a rare window for potentially explosive gains in ONE asset immediately. (Not AI or crypto). Wall Street insiders are already positioning themselves... and he insists you should, too, before it's too late.

BitMine (BMNR) Stock Rises As Company Continues Stacking Ethereum

BitMine Immersion Technologies Inc (AMEX:BMNR) shares are trading higher on Monday.

Investigators look into 'repeating bell' heard during takeoff of UPS cargo plane that crashed

LOUISVILLE, Ky. (AP) — A repeating bell sounded in the cockpit for 25 seconds as pilots tried to control a UPS cargo plane that caught fire, had an engine fall off and this week in Louisville, Kentucky, a National Transportation Safety Board member said Friday.

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next - Ad

Dominican Republic authorizes more flights for tourists rerouted by Hurricane Melissa

SANTO DOMINGO, Dominican Republic (AP) — The Dominican Republic has authorized the arrival of 800 new flights to accommodate a surge in tourists who were originally planning to vacation in Jamaica and other nearby islands but were rerouted following the devastation of .

Drone attack on a northern Iraq gas field triggers widespread power outages

ERBIL, Iraq (AP) — A drone attack forced a complete shutdown of gas supplies at a natural gas field in northern Iraq, triggering widespread electricity outages across northern regions and prompting urgent condemnation from Iraqi, Kurdish, and U.S. officials.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Pfizer Clinches $10 Billion Deal To Buy Obesity Drug Maker Metsera, Outbidding Novo Nordisk In Fierce Battle For Weight-Loss Market Dominance

Nvidia CEO Jensen Huang cautioned Elon Musk against underestimating the challenges of semiconductor manufacturing, saying building a chip fab like TSMC's is "extremely hard."

Brazilian environmentalist gets funded by DiCaprio after false forest fire accusation by Bolsonaro

SAO PAULO (AP) — Being falsely accused of setting fire in with funds from an Oscar-winning actor eventually became a blessing in disguise for Caetano Scannavino, the founder of a nonprofit organization in the heart of the rainforest.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

Summit of EU, Latin America and Caribbean nations aims to strengthen ties amid US military operation

BOGOTA, Colombia (AP) — Representatives of European, Latin American and Caribbean nations will meet Sunday in Colombia to try to strengthen ties amid divisions in the Western Hemisphere over targeting alleged drug-carrying vessels.

Trending Now