Tesla Stock Jumps 5.5% Ahead of Cybercab Launch. Is $400 Next?

Tesla Inc. (TSLA) stock closed at $367.95 on Monday, up 5.51%. Volume reached 61.8 million shares, roughly 46% above the three-month average, while the S&P 500 and Nasdaq both finished lower.

The rally landed three days before Tesla's Cybercab launch event in Austin. Traders now want to know whether the recovery can reach the $400 resistance band that capped the stock through summer.

Three Catalysts Lifted Tesla Stock in One Session

Tesla confirmed an invite-only Cybercab event for Sept. 3 and plans to livestream it.

Over the weekend, Elon Musk posted that SpaceX and Tesla are each building 100 gigawatts per year of solar production capacity. He added that SpaceX will cast gas turbine blades in-house, which could bring turbines online up to 18 months earlier.