Shares of Tesla (TSLA -1.11%) jumped as much as 5% today. Some news about the company and its plans might have some investors excited to grab shares as the trading week kicks off. The stock closed Monday's session with a gain of 4.2%.
Now the question is whether the reasons for the jump are good enough for investors to follow those who bought in today.
The Cybertruck is coming
Tesla shares have dropped about 13% over the past month, giving what some investors seem to think is a good opportunity to add shares. The reason for the drop is likely associated with what has occurred in the recent past with the company. Third-quarter results disappointed investors with declines in vehicle production and profitability.
But the allure is related to what comes next for the world's leading electric vehicle (EV) maker.
Tesla is finally on the verge of beginning commercial deliveries of its long-awaited Cybertruck. With hundreds of thousands of orders on the books, and CEO Elon Musk warning that the rollout will take time, the company is seemingly working to prevent price gouging on the resale market. It is adding a clause to Cybertruck orders, Barron's reports.
Early buyers of the unique electric truck will have to agree not to resell it for at least a year, according to the report. That could keep demand and excitement for the new offering at a high level for a longer time -- essentially free advertising for Tesla.
Another revenue stream
Another news item is also creating traction for Tesla and investors. Last month, BP announced it would spend $100 million to purchase Tesla fast-charging Superchargers and will deploy them at many of its company-branded locations.
And now there is word that Tesla has another new customer for its charging hardware. European gas station operator EG Group is buying Supercharger equipment, according to the EV sector tracker Electrek. These sales to third parties will bring another stream of revenue to the EV maker, and investors are guessing it could be meaningful.
Whether it is significant or not remains to be seen. But Tesla is already hugely profitable, and another source of profit is another positive development. That helps explain today's move.
If the Cybertruck rollout and the Supercharger sales are both successful, it should make buying Tesla stock at today's prices a good decision down the road.
