Tesla (NASDAQ: TSLA) stock is enjoying what feels like a rare "up" day Monday morning, as investors parse some confusing news. Last week Reuters reported that Tesla has abandoned its plans to build a Model 2 electric car priced at less than $25,000, in order to focus its efforts on building "robotaxis" instead.

CEO Elon Musk quickly dismissed the rumor on social media platform X, saying Reuters was "lying."

But Tesla stock still took a hit on Friday, falling nearly 4%. Today, however, Tesla is winning back its losses -- and more -- as its stock bounces 4.2% through 10:05 a.m. ET.

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Source Fool.com