Tesla stock jumps after X posts tease product launch
Shares in Elon Musk’s Tesla (TSLA) jumped in the first hour of Monday’s market session after the electric vehicle maker published a series of cryptic posts on X on Sunday hinting at a new product unveiling.
Tesla shares climbed as high as 4% in the early hours of the first trading session after the EV maker posted gifs on Sunday of a spinning company logo with the date “10/7” and of what appears to be car headlights shining through smoke.
If the company does indeed unveil a new product on Tuesday, it will be the first major product announcement since October 2024, when Telsa unveiled its self-driving “Robotaxi.”
Though there’s no clarity over what the posts on Sunday might be hinting at, Tesla chief Musk posted on X in mid-September, “The new Roadster is something special beyond a car,” responding to a user who posted a mock promotional video of a second-generation Roadster. The vehicle was initially unveiled in 2017 but has yet to come to market.
The product tease comes after another positive development for the electric vehicle maker. On Oct. 2, Tesla reported that EV deliveries in the three months through September had jumped by 7% over the same period last year and beat Wall Street expectations.
The stock initially gained about 2% on the news before falling to trade down roughly 0.5%.
The deliveries gains have been at least partially attributed by analysts to the expiry at the end of September of a federal electric vehicle tax credit worth up to $7,500. Rival EV makers such as Rivian (RIVN) also posted heightened figures for the period.
Deliveries for Teslas suffered throughout the first half of 2025 as Musk spent much of his time in Washington, embroiled in on-again, off-again politics with the Trump administration. Deliveries for the first and second quarters of 2025 were down roughly 13% and 13.4% year over year, respectively, according to Tesla disclosures.
Tesla is set to report earnings on Oct. 22, with the company’s annual shareholder meeting to follow on Nov. 6.
Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance