Tesla (TSLA) Stock Climbs 4% as Musk Sets Eight-Month End Date for Cybertruck

TLDR Tesla stock rose about 4% after Musk said Cybertruck production will stop in roughly eight months. Tesla will build as many trucks as it can before the line closes. Deposits will be refunded to many customers. Musk says the freed capacity is better used on Cybercab units. Analysts hold a Moderate Buy rating with a $409.49 price target. Tesla (TSLA) stock was up 4.23% on Monday after CEO Elon Musk said the company will end Cybertruck production. The news came in a post on X. Tesla, Inc., TSLA Musk said the line will close in about eight months. Until then, Tesla plans to build as many trucks as it can. Customers waiting on orders will not all get a truck. Tesla will need to refund deposits to numerous buyers.

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