Tesla Inc.’s stock price rose Wednesday, a sign that the electric-vehicle maker’s shares might stabilize after falling for three consecutive days.

Over the weekend, Chief Executive Elon Musk agreed to abide by a Twitter poll that called for him to sell 10% of his stake in the company. Shares have fallen more than 16% since that tweet, with 12% of that decline coming in Tuesday’s trading session—its biggest one-day drop since Sept. 8, 2020.