Stocks soared Thursday after the Federal Reserve cut interest rates by 50 basis points the day before. One of the biggest winners was Tesla (NASDAQ: TSLA). Shares jumped 7.4% as investors saw the rate cuts as a clear tailwind for the U.S.'s largest electric vehicle (EV) maker. That gain was enough to add $50 billion to its market cap.

Higher interest rates have been proved to be a headwind for the auto industry at large, and Tesla is no exception.

Shares of Tesla Inc. TSLA shed 0.29% to $227.20 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index COMP falling 0.31% to 17,573.30 and Dow Jones Industrial Average DJIA falling 0.

For Tesla stock, who needs robotaxis when you have interest rates? Tesla stock was down to start trading on Friday after an epic gain on Thursday. Shares of the electric vehicle maker were off 1.8% at $239.