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Elon Musk at the Kennedy Space Center on May 27. Photo: Saul Martinez/Getty Images

Tesla CEO Elon Musk appears to be open to the idea that the blocky, sci-fi looking Cybertruck might not light the pickup truck market on fire.

Driving the news: Musk, in an interview with Automotive News, said building a more conventional-looking pickup is a "fallback strategy" if things don't work out for the Cybertruck that's slated to begin production next year.

Here's some interview details via Business Insider:

"Musk said he realized the Cybertruck could be 'a complete failure,' but the company has a back-up plan."
"But I wasn't super worried about that because if it turns out nobody wants to buy a weird-looking truck, we'll build a normal truck, no problem."

What we're watching: Musk said there are at least 200,000 reservations for the truck. However, it's hard to say how many of those refundable $100 reservations will translate to actual sales.

Go deeper: Elon Musk's chaos theory is paying off for Tesla — for now

Go deeper

Nasdaq is on the verge of doubling in 20 months

Tuesday's close. Screenshot via CNBC

The tech-driven Nasdaq 100, amid a raging recession and plunge in profits, is on the brink of doubling in 20 months, Bloomberg points out.

Why it matters: It's a vivid sign of how disconnected the markets are from America's economic reality.

Dan Primack, author of Pro Rata
10 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: DACA was implemented under former President Obama, but President Trump has sought to undo the program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting applications starting Monday and guarantee that work permits are valid for two years.