Love it or hate it, many people want to own the Cybertruck. They’ll pay way over sticker to get it faster and now there’s a new option to take delivery soon. Tesla just started a new program specifically for TSLA stockholders, and boy does it present some interesting hoops to jump through.
Under a new page on its homepage, Tesla touts its “Early Cybertruck Delivery for Long-Term TSLA Shareholders.” For just over the next week, folks who qualify for this program can skip the Cybetruck line and get priority delivery. It’s what they have to do to qualify that makes this interesting.
First, they must already have a reservation as of March 1st, 2024. In addition, they can’t already have a Cybertruck. Third, they must prove with brokerage statements that they owned TSLA shares on February 28th, 2021. At that time it was trading for just north of $225.
More: Cybertruck Owner Claims Tesla Blacklisted Them For Listing EV For Sale
On top of those hurdles, to qualify, one also needs to own at least 500 shares as of February 29th, 2024. Since TSLA is currently trading for about $177, that’s approximately $88,500 worth of the stock today.
That same day marks the time when they must also have owned at least 50% of the shares they had back in 2021. Finally, all of that must be confirmable via brokerage statements.
To sum it up, Tesla is essentially rewarding its loyal shareholders who have a Cybertruck order already in the works. At the same time, it’s incentivizing holding the stock for the future too and that appears to be the main play here. This deal doesn’t help Tesla sell any more Cybertrucks and it doesn’t offer a discount to buyers either.
Instead, it builds a bit more loyalty for a brand that is already top of the class when it comes to the subject. The move could even influence some who have considered selling TSLA stock to hold off in hopes that they too are rewarded down the line.