Tesla stock (TSLA) led gains among the “Magnificent Seven” on Monday, surging nearly 12% amid investor optimism that President Trump’s tariff plans may not be as wide-reaching as previously anticipated.
Reports that Trump will hold off on bringing in levies on the auto sector on April 2 eased worries that Tesla’s bottom line would be impacted.
Shares of the EV maker had already been on a downward trend amid concerns of a drop in sales and a backlash against the brand over CEO Elon Musk’s involvement in politics.
Read more about Tesla’s stock moves and today’s market action.
The stock began digging out of its most recent dip last week when Tesla revealed plans to launch its robotaxi service in 2025.
On Monday, the electric car maker responded to complaints about a pause in its Full Self-Driving trial in China, saying it will release the features once regulatory approval