Tesla (TSLA) is in focus this morning after rumors emerged over the weekend that the automaker plans on beginning production of a new all-electric crossover that it’s internally calling the “E80.” According to recent reports,

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 10.4% in the afternoon session after the National Highway Traffic Safety Administration (NHTSA), rolled out new rules to speed up the launch of home-built self-driving cars.

Tesla’s (TSLA) shares can slump to $170-$180 “in weeks,” Gareth Soloway, Chief Market Strategist of Verified Investing said recently on Schwab Network. However, Soloway believes that the shares may bounce significantly once they reach those levels.