Tesla's Roadster reveal was one of the most talked-about events of the week. It was also one of the quickest stock rallies to fade.
On the evening of Thursday, October 15, 2026, at SpaceX's test site near McGregor, Texas, Tesla finally showed its next-generation Roadster. Tesla first took deposits on the car in 2017. The prototype raced up a curved ramp, hung upside down, flipped in midair, hovered and landed, using thrusters developed by SpaceX. Tesla said it can go from zero to 60 miles per hour in under one second.
Elon Musk said the Roadster will enter production in 2028 and will be the last Tesla built to be driven by a human. He joked, "I'm not sure it will be legal in all jurisdictions."
Tesla did not announce a price. The company reopened reservations before the event, taking $50,000.00 deposits in the U.S., Canada and China. The New York Times wrote that the car "will certainly cost hundreds of thousands of dollars." CNBC noted that Tesla has missed every delivery date it set for the Roadster since 2017.
Tesla (NASDAQ: TSLA)
The stock rose nearly 5% in premarket trading on Friday, October 16, 2026, and 24/7 Wall St. reported it up 4% at $375.29 that morning. By early afternoon, the gain was gone. TSLA traded at $351.90, down 2.91% from the prior close of $362.44.
The market cap is $1.39 trillion. The P/E ratio of 326.66 shows how much of the company's value depends on future businesses rather than current profits. The stock is 18.33% above its 52-week low of $297.38 and 29.45% below its 52-week high of $498.83. Morningstar says it is down nearly 20% so far in 2026.
Analysts are split. The consensus rating is Hold.
Tigress Financial has the high target at $550.00, reaffirmed on October 8, 2026.
Jefferies raised its target to $400.00 from $350.00 on October 12, 2026, but kept a Hold rating.
UBS is at $391.00 and JP Morgan is at $415.00, both Neutral.
GLJ Research has a Sell rating and a $24.86 target.
That one very low target pulls the average down to $373.69. The median target of $400.00 is a better guide, and it implies about 13.67% upside. Morningstar puts fair value at $450.00 per share.
The Numbers Going Into Earnings
The Roadster won't contribute revenue for at least two years. Investors care more about Tesla's current business, and this month's numbers were mixed.
Deliveries came in ahead of forecasts. On October 2, 2026, Tesla reported 486,532 third-quarter deliveries, well above the company-compiled consensus of 461,974. That was down about 2% from 497,099 a year earlier, a quarter when buyers rushed to buy before the $7,500.00 federal EV tax credit expired on September 30, 2025. Energy storage deployments reached 13.7 GWh, up from 12.5 GWh a year earlier.
Profitability has been weaker:
Second-quarter adjusted EPS was $0.33, well below the $0.54 estimate.
Operating margin fell to 1.4%.
Free cash flow was negative $1.09 billion.
Management expects 2026 capital spending of more than $25.00 billion, for AI, Cybercab, Semi, Megapack 3 and Optimus robot production.
Tesla held $43.50 billion in cash, which gives it room to keep spending. Zacks reports a consensus third-quarter EPS estimate of $0.44 on revenue of $27.80 billion. That would mean a 12% drop in earnings and a 1% drop in sales from a year earlier. The EPS estimate has fallen by $0.03 over the past 30 days.
Competition is also tougher. CNBC noted pressure from Chinese EV makers BYD and Xiaomi, along with the loss of the federal tax credit. The broader market isn't helping either. The AI-debt selloff and September's 3.7% inflation reading have hit high-valuation growth stocks especially hard this month.
What to Watch
Tesla reports third-quarter results after the market closes on Wednesday, October 21, 2026, with a webcast at 5:30 p.m. ET. Morningstar highlighted four items to watch:
Whether operating cash flow can keep up with heavy capital spending
Production plans for Cybercab, which launched in Austin in the third quarter, and the planned expansion to Dallas
A start date for Optimus production at Tesla's new California line
Any update on robotaxi service, which 24/7 Wall St. said runs in seven U.S. metro areas
Zacks estimates automotive gross margin at 17.3% for the quarter. The Roadster reveal showed off Tesla's engineering. The earnings report will show how much the company can earn today.
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