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Tesla (TSLA) shares soared Friday amid a broader market rally spurred by comments from Federal Reserve Chair Jerome Powell that indicated interest rate cuts could be on the horizon.
The EV maker’s stock jumped over 6% to close around $340, making it the top gainer among shares of the world’s most valuable technology companies, which rallied Friday after being under pressure most of the week. Tesla was also among the top-performing stocks in the S&P 500 and Nasdaq 100 today.
Tesla stands to benefit from an environment of lower interest rates, which would make it easier for consumers to finance big-ticket purchases such as autos. The stock, which is prone to volatile price moves, also likely got a boost Friday as investor risk appetite returned along with the prospect of lower interest rates.
However, even with Friday’s gains, the stock has lost over 15% of its value this year after a backlash to CEO Elon Musk’s political activities and slump in sales, making it the worst-performing “Magnificent Seven” stock of 2025. The only other member in the red is Apple (AAPL), which has seen its stock decline about 9% over the same period amid worries about the impact of tariffs and its progress in AI.
Last month, Musk warned Tesla could also face a “few rough quarters” ahead, with the expiration of EV tax credits in September potentially set to weigh on demand, thanks to President Trump’s “One Big Beautiful Bill.”
Still, that hasn’t stopped the company from raising the price of its most expensive Cybertruck by $15,000 to $114,990 in the U.S., according to its website. Its “Luxe Package” comes with Supervised Full Self-Driving, and free access to Tesla’s Supercharger network. Prices of Tesla’s other Cybertrucks, which don’t come with the package, didn’t change at $62,490 and $72,450, respectively.
The move raised speculation that Tesla could be testing demand for bundled access to offerings like its FSD, which is available a la carte with other models for a one-time cost of $8,000.
