Tesla stock experienced a rise on Monday following a weekend filled with significant developments.
Tesla has introduced a new version of its Model Y, offering an extended range of approximately 320 miles per charge. This replaces the previous model that provided a range of around 260 miles per charge. The starting price for the long-range version is approximately $45,000. The base model was priced at approximately $43,000.
Tesla’s stock saw a modest increase of 1.1% to $183.12 in premarket trading, while the futures for both the S&P 500 and Nasdaq Composite also showed a slight uptick of 0.2%.

Last week, the shares experienced a significant increase of over 15% following a surprise visit by CEO Elon Musk to China. This visit resulted in a deal that permits Tesla to sell its most advanced driver-assistance features in the country.
Musk made an announcement over the weekend on his X platform, mentioning in a tweet that certain Model Ys currently on the roads can have their range increased through a software update.
(In a separate tweet on Saturday, he mentioned that on Monday he worked from 9 a.m. Beijing time to 2 a.m. Texas time. That means working for about 28 hours in a row.
As of Monday, Tesla stock has experienced a 27% decline this year, which is significantly lower than the performance of the S&P 500 by 35 percentage points. Shares, on the other hand, have surged 28% since hitting a 52-week closing low on April 22. This was just before first-quarter earnings were released, which turned out to be better than expected and boosted investor confidence.
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