Tesla Stock Jumps 5% as New Cheaper Model Y Variant Launches, Cybertruck Deliveries Expected Soon

Tesla stock surged 5.2% to 259.36 Wednesday, clearing its 50-day line and signaling a buy for aggressive investors.

Tesla launched a new cheaper rear-wheel drive Model Y variant starting at $43,990 in the U.S.

The company continues a trend of lowering average selling prices for its EVs over the past year.

Tesla aims to rebound in Q4 with new Model 3s in China and expected Cybertruck deliveries after missing Q3 estimates.

Rivian stock also jumped 8.6% Wednesday to 23.56, nearing a potential early entry point.