Tesla Rebounds 4.2% on Friday as Musk’s Cybertruck Call Splits Investors

Tesla shares closed at $358.22 on Friday, November 6, up $14.53 or 4.23% on the day, trading between $347.60 and $363.84 on about 36.3 million shares. The bounce came a day after the stock fell 10.77% to close at $343.69 on Thursday, and it still left Tesla 28.2% below its 52-week high of $498.83, with a five-day return of about minus 11%.

The trigger for the rebound was Musk’s Friday announcement that Tesla will wind down Cybertruck production at Gigafactory Texas around mid-2027 to free up factory space for the Cybercab robotaxi — the same announcement Carc covered on November 6. The stock rebounded with the broader market on Friday, and some reports noted the Cybertruck news itself was not necessarily the driver of the day’s move.

The investor reaction to the Cybertruck call split immediately. Ross Gerber, co-founder of Gerber Kawasaki Wealth & Investment Management, called the wind-down “another failure for Tesla,” while longtime Tesla bull Gary Black called it a “missed opportunity.” The disagreement is the point: the same decision reads as discipline to some investors and as surrender to others.

The calendar adds one more date to watch. Tesla’s 2026 annual meeting is scheduled for Thursday, December 3, at 3:00 p.m. Central Time, and the deadline to enter the random drawing for limited in-person attendance passed on Friday, November 6, at 11:59 p.m. Central Time. Eligible shareholders can still participate virtually. For context, Tesla fell about 13.8% in the two days after the midterm elections, from a November 3 close of $398.50 to $343.69 on November 5, before Friday’s partial recovery.