New Delhi, May 14 -- Tesla's stock rose early, then fell, then rose again on Wednesday as CEO Elon Musk heads to China.

Shares of the electric-vehicle maker traded up early, then dropped to as low as $430.21 before rising to $445.27, up 2.7% on the day, while the S&P 500 gained 0.6% and the Dow Jones Industrial Average fell 0.1%

Tesla shares fell 2.6% on Tuesday, snapping a four-day winning streak that raised Tesla stock more than 14%. One thing sending shares higher was the hope that Tesla was close to receiving approval to sell its Full Self Driving, or FSD, driver-assistance product in China.

Americans can pay $99 a month for FSD. In April, Tesla reported 1.3 million FSD subscriptions at the end of the first quarter, up from about 8...