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

The Market Just Crossed a Dangerous Line - Ad

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Is This Elon's Worst Nightmare? - Ad

Popular

EPAM Confident On Growth, Initiates $1 Billion Stock Buyback

EPAM Systems (EPAM) stock gained 4.41% after reporting strong third-quarter 2025 results, with sales of $1.394 billion.

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.

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.

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Lithium, uranium and titanium are at the center of a global race. Nations are scrambling to secure them for fighter jets, EVs, and reactors. One N. American project could help fill the West's critical-minerals gap.

Amazon Strikes $38B OpenAI Deal, Wedbush Hikes Target To Street-High

Wedbush analysts Dan Ives and Scott Devitt raise the price target on Amazon stock from $330 to a Street high of $340

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

America Wants Less Reliance on Foreign Metals - And This Nevada Play Fits the National Shift

America Wants Less Reliance on Foreign Metals - And This Nevada Play Fits the National Shift - Ad

The U.S. is working to reduce dependence on China and Russia for strategic metals like copper, silver, gold, and tungsten. Guardian Metal's recent results confirmed these metals are active in this Nevada corridor - and its stock is up 300%+ YTD. A new explorer on the same belt is entering early as America pivots back to domestic supply.

Coeur Mining's $7 Billion Deal For New Gold Creates $20 Billion Powerhouse

Coeur Mining Inc. (CDE) announced acquisition of New Gold Inc. (NGD) in all-stock deal valued at $7 billion.

UPS cargo plane with 3 aboard explodes on takeoff at Louisville airport, igniting huge fire

LOUISVILLE, Ky. (AP) — A large UPS cargo plane with three people aboard crashed Tuesday while taking off from an airport in Louisville, Kentucky, igniting an explosion and massive fire that left a thick plume of black smoke over the area.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26?

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as January 26... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

Jim Cramer: Chipotle Is 'Too Expensive,' Buy This Plane Maker

On "Mad Money," Cramer discusses Henry Schein, Bloom Energy, Tyler Technologies, Boeing and Chipotle Mexican Grill.

Bernie Sanders Says Shutdown Fight Is About Trump Giving Trillion-Dollar Tax Breaks To 'Mr. Musk, Mr. Bezos' And Other Billionaires: 'Must Not Cave'

Sen. Bernie Sanders blamed President Donald Trump's billionaire-focused tax cuts for causing the record-breaking government shutdown, urging Democrats "not to cave" as the Senate moves toward a vote to reopen the government.

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.

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.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Why Is a $116B Mining Giant Backing a $10M Firm?

Why Is a $116B Mining Giant Backing a $10M Firm? - Ad

Rio Tinto rarely makes early-stage bets. Yet one small N. American firm earned its trust with projects in lithium, uranium, and titanium - all vital to U.S. defense and energy independence.

Christmas market in Germany opens after last year's deadly attack in the city of Magdeburg

BERLIN (AP) — The Christmas market in the German city of Magdeburg opened Thursday, nearly a year after it was the scene of a horrific that left six people dead.

Rigetti, D-Wave Stocks Down, ETF Reactions Diverge In Market Shakeup

Quantum ETFs face turbulence as Rigetti and D-Wave stocks plummet.

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.

Cathie Wood Makes $13.4 Million Bet On This Social Network After Earnings Crash — But Dumps Robinhood And Reddit

Ark Invest made significant trades, focusing on Pinterest, Robinhood, and Reddit amid earnings reports. They have confidence in Pinterest's potential despite recent setbacks.

Cathie Wood Goes All-In On Peter Thiel's Crypto Play Bullish With Back-To-Back Million-Dollar Buys

Cathie Wood-led Ark Invest purchased shares in Bullish, a crypto exchange backed by Peter Thiel, through three of its funds. Other key trades were also made, including buying shares in CRISPR and Beam Therapeutics.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

Qatar Airways to sell its holdings in Hong Kong's Cathay Pacific for $896 million

DUBAI, United Arab Emirates (AP) — Qatar Airways will sell its stake in Hong Kong-based Cathay Pacific Airways in a share buyback valued at $896 million, the companies announced, ending the Qatari carrier's .

Indians who fled a Myanmar cyberscam center are being flown home from Thailand

MAE SOT, Thailand (AP) — is repatriating on Thursday the first batch of hundreds of its nationals who last month fled to Thailand from Myanmar, where most had been working at a .

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Washington's push for domestic copper, silver, gold, and tungsten is reshaping the resource landscape. Their neighbor's multi-metal hits, supported by $6M in federal funding and a 300%+ YTD surge, confirmed this Nevada corridor is the right kind of ground. Now another early-stage explorer has stepped into the same trend as interest accelerates.

Taylor Swift, Elon Musk, Donald Trump, MrBeast — Robinhood Just Made Their Mojo Tradable

Robinhood has new prediction markets for its customers, with a focus on the entertainment sector. Here are some of the new markets.

Typhoon Kalmaegi leaves 26 dead in Philippines, people trapped on roofs and cars submerged

MANILA, Philippines (AP) — Typhoon Kalmaegi has left at least 26 people dead in the Philippines, mostly in flooding set off by the storm, which barreled across the central part of the country on Tuesday, disaster response officials said. Floodwaters trapped scores of people on their roofs and submerged cars.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Trump Nominates Jared Isaacman For NASA Administrator — Elon Musk Reacts

Elon Musk's ally Jared Isaacman nominated for NASA Administrator by President Donald Trump amid SpaceX's Artemis push.

Bill Ackman's Hertz Stake Is Starting To Look Like His Next Chipotle Moment

Bill Ackman's investment in Hertz may be the next Chipotle moment as the rental-car company sees a surprise profit and a 40% stock surge.

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

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

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 Wants Washington Commanders' $3.7 Billion Stadium Named After Him: Report

President Donald Trump is seeking to have the Washington Commanders' new $3.7 billion stadium named after him.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Japan's Toyota, hurt by President Trump's tariffs, reports a drop in profit

TOKYO (AP) — Toyota reported a 7% year-on-year drop in its profit for April-September on Wednesday, as President Donald Trump’s tariffs slammed Japanese automakers, but it raised its forecast for the full fiscal year.

GOP Senators Applaud Trump's Nvidia Advanced Chip Ban As Jensen Huang Warns China Could Dominate AI Race — Urges US To Race Ahead By Doing This

Eight Republican senators praised President Donald Trump for upholding Nvidia's AI chip export ban to China.

America Wants Less Reliance on Foreign Metals - And This Nevada Play Fits the National Shift

America Wants Less Reliance on Foreign Metals - And This Nevada Play Fits the National Shift - Ad

Rivian Automotive CEO Gets An Elon Musk-Style Pay Raise

Rivian CEO's new pay plan could be worth up to $4.6 billion over the next ten years.

Trending Now