Tesla ( TSLA 5.23%) stock investors received an early Christmas gift from Hyundai ( HYMTF -7.03%) this morning: at least 112,000 new potential customers for its Supercharger electric car charging system. Tesla stock is up 4.5% through 10:45 a.m. ET on the news.

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Tesla stock fell while the market rallied on Friday, which makes Monday’s rally a relief for investors watching the stock after its recent rally. “To me, [Tesla stock] was wildly overbought and long hedge funds needed a reason to take some profits,

Tesla stock fell while the market rallied on Friday. That makes Monday an interesting test of the stock’s recent rally. Shares of the electric-vehicle maker dropped 3.5% on Friday, closing at $421.06.

Tesla (NASDAQ: TSLA) has been one of the biggest surprises of 2024. The stock lagged the market for much of the year as the company reported disappointing quarterly results, including sluggish growth and falling profits.