Tesla surges after Elon Musk says more than 200,000 people have ordered the controversial new Cybertruck

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Tesla surges after Elon Musk says more than 200,000 people have ordered the controversial new Cybertruck

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  • Over the weekend, Elon Musk tweeted that pre-orders were rolling in for Tesla's Cybertruck and reached 200,000 as of Sunday.
  • Shares of Tesla traded up as much as 5% on the news early Monday.
  • The pre-orders come after the Cybertruck's rocky reveal last week when the vehicle's shatterproof glass windows were broken in a live demonstration, sending the stock down.
  • Watch Tesla trade live on Markets Insider.

Tesla's rebounding after its Cybertruck disaster sent shares slipping last week.

Shares of the electric-vehicle maker were up as much as 5% in early trading Monday after Elon Musk tweeted Sunday that 200,000 people had pre-ordered the electric pickup.

The tweet followed an earlier message from Saturday in which Musk said that only 48 hours after the Cybertruck reveal event - where the vehicle's "shatterproof" windows were accidentally smashed in a demonstration - as many as 146,000 people had pre-ordered the truck.

The glut of orders also comes after Wall Street's less-than-rosy reaction to the Cybertruck's futuristic design. Analysts wrote Friday that the truck looked "weird" and that it could keep consumers from purchasing it.

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So far, it seems that the more expensive options are the most popular. Musk tweeted Saturday that 41% pre-ordered the triple-motor option, which starts at $69,900, and 42% have ordered the dual-motor option at $49,900. Only 17% have pre-ordered the single-motor option, which starts at $39,900.

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The pre-orders are coming in even with "no advertising and no paid endorsement," according to Musk.

Customers can pre-order a Cybertruck on Tesla's website for a $100 "fully refundable" deposit. And, they will be able to complete their configuration "as production nears in late 2021," the website reads.

Tesla shares are up 0.2% year-to-date through Friday's close.

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