Tesla stock was rising in early trading Wednesday after posting a solid gain Tuesday on the news that it will offer free trials of its full self-driving software.
The electric-vehicle maker’s shares were up 1.1% in the premarket after adding almost 3% Tuesday. Futures on the S&P 500 advanced 0.3%, as did those for the Nasdaq Composite.
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stock was rising in early trading Wednesday after posting a solid gain Tuesday on the news that it will offer free trials of its full self-driving software.
The electric-vehicle maker’s shares were up 1.1% in the premarket after adding almost 3% Tuesday. Futures on the S&P 500 advanced 0.3%, as did those for the Nasdaq Composite.
stock moved after more details emerged about the plan to offer a trial of the EV’s driving assistance software. Elon Musk told employees this week that all customers will get a test drive with the driving assistance software before buying, highlighting the unique features of a Tesla over rivals as competition gets tougher.
The stock is on track to finish this week higher after slipping about 30% since the start of the year. That is despite Bernstein analyst Toni Sacconaghi, a longtime Tesla bear, saying on Tuesday shares could fall another 30% this year.
Shares of other Tesla peers were also moving Wednesday.
BYD
,
the Chinese EV maker that overtook Tesla in deliveries in the fourth quarter, saw its American depositary receipts fall 0.2% .
shares were down about 1% in early trading, while
stock rose 0.8%.
was up 0.5% while
stock added 1.1% in premarket trading.
shares were also up, by 1.3%.
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At Tuesday’s close of $177.67, Tesla stock is well off its 52-week high of $299.29, set last summer. Trading volume of 113.19 million at the Tuesday close was almost 10 million higher than its 65-day average volume of 103.31 million.
Write to Brian Swint at brian.swint@barrons.com
