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AsofFriday'sclose, Tesla stock has risen 7.78% since Tesla CEO Elon Musk's tweet a week ago that the company's shares were priced "too high."

Shares of Tesla closed downdown 10.3% last Friday on Musk's tweet, but have quickly recovered those losses and then some it's up 16.84% from the week-ago close. The stock rise is part of a general rebound in the markets this week, boosted by news that the company will attempt to restart some production at its U.S. car plant in Fremont, California, on Friday afternoon.

The CEO has faced problems with the SEC for tweeting about the company's stock in the past, following his infamous tweet in August 2018 saying hewanted to take Tesla private at $420 per shareand that he had secured the funding to do so. Musk has sinceagreed to submithis public statements about Tesla's finances and other topics to vetting by its legal counsel.

It's unclear if Musk had that approval for his May 1 tweets. When asked by the Wall Street Journal last week if the tweet was a joke or vetted, Muskreplied: "No." The SEC declined to comment at the time.

CNBC's Thomas Franck contributed to this report.

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Tesla shares are up more than 7% since Elon Musk said the stock was 'too high' - CNBC