Tesla (NASDAQ: TSLA) stock is enjoying what feels like a rare “up” day Monday morning, as investors parse some confusing news. Last week Reuters reported that Tesla has abandoned its plans to build a Model 2 electric car priced at less than $25,000, in order to focus its efforts on building “robotaxis” instead.
CEO Elon Musk quickly dismissed the rumor on social media platform X, saying Reuters was “lying.”
But Tesla stock still took a hit on Friday, falling nearly 4%. Today, however, Tesla is winning back its losses — and more — as its stock bounces 4.2% through 10:05 a.m. ET.
Tesla tweets
Citing unnamed sources, Reuters reported last week that Tesla has entirely “canceled” plans to build the Model 2 electric car — which at a rumored price of $25,000 could be key to Tesla’s efforts to compete with low-priced electric cars from China. Musk was quick to dismiss the report in part, but…
