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  • Tesla Cybertruck Causes Stock to Take a Dive, Then Recover

Tesla Cybertruck Causes Stock to Take a Dive, Then Recover

Elon Musk Claims 200,000 Preorders

Nov 25, 2019
Photo 2/4   |   2022 Tesla Cybertruck Concept Side Profile

The Tesla Cybertruck might have some speculators worried, but Elon Musk's legion of loyal fans don't seem to share that sentiment. According to the electric automaker's cofounder and CEO, Tesla has received 200,000 preorders and counting for the controversially styled pickup.

Photo 3/4   |   2022 Tesla Cybertruck Concept Front Quarter

In the days since the Cybertruck concept's reveal in Hawthorne, California, company stock has tumbled a fair amount, going from $354.83 a share on Thursday to $333.04 on Friday. However, after Musk tweeted "200k" yesterday evening (likely a reference to the truck's preorder count), the company seems to have recovered a bit, trading at $337.46. Even at Friday's low close of $333.04, Tesla stock is still up 0.2 percent year-to-date, according to Business Insider.

Preordering the Tesla Cybertruck demands a fully refundable fee of $100, which is substantially lower than the $1,000 cost of a Model 3 preorder or the $2,500 cost for that of the Model Y small crossover. When production of the truck begins in late 2021, the Cybertruck will have a base price of $39,900 for the single-motor, rear-wheel-drive model. The Dual Motor AWD truck will start at $49,900, while the top-spec Tri Motor AWD will cost $69,900. Regardless of drivetrain, all Cybertrucks will be crew cabs with a 6.5-foot "vault." Apparently calling it a bed is far too commonplace for Tesla.
Photo 4/4   |   2022 Tesla Cybertruck Concept Interior

Musk revealed some pretty impressive stats for the Cybertruck. The base model will have a range of 250-plus miles, as well as a towing capacity of 7,500 pounds. It will accelerate to 60 mph in less than 6.5 seconds, according to Tesla. The Dual Motor AWD model features a larger battery and front-mounted electric motor, improving both performance and range: 300-plus miles per charge, 10,000 pounds of towing capacity, and a 60-mph sprint in about 4.5 seconds.

At the very top of the Tesla Cybertruck range is the Tri Motor AWD, which will go from 0-60 in a staggering and supercar-shaming 2.9 seconds, with a total theoretical range of 500-plus miles and a towing capacity of 14,000 pounds. All Cybertrucks will come standard with Tesla Autopilot driver-assist features, an adaptive air suspension that enables up to 16 inches of ground clearance, and 100 cubic feet of bed space.
Viewed on a spec chart, the Tesla Cybertruck might have a lot of mettle in competing with the Ford F-150. Its base price is roughly on par with that of a rear-drive, crew-cab Ford pickup, and at just under $70,000, the top-spec Cyber will still be competitive with loaded Limited and Platinum models of the F-150. And if you believe Musk's Twitter feed, there are at least 200,000 people who appreciate (or can overlook) the Cybertruck's dystopian, Blade Runner aesthetic.
Source: Elon Musk via Twitter, Business Insider