Tesla Stock Jumps in Premarket Trading After Sharp Selloff

Tesla stock rose around 5% in premarket trading Friday, suggesting the shares were set to claw back some of their heavy losses from the previous session.

Tesla stock was up 4.3% at $296.99 ahead of the open, while S&P 500 and Dow Jones Industrial Average futures were both up 0.4%. The move came amid signs that Elon Musk and President Donald Trump may be cooling off after their high-profile spat on Thursday.

The shares tumbled 14.3% Thursday, wiping out more than $150 billion in market value. It was the biggest one-day loss in the electric-vehicle maker's history.