Tesla stock is back above $400. TSLA traded at $406.31, up 4%, in afternoon trading on Tuesday, Oct. 27, 2026, 24/7 Wall St. reported. It opened 3.03% higher, according to TradingKey. These are intraday prices, not the closing price.
What's moving it
- ARK Invest: After Monday's close, ARK's Tasha Keeney repeated the firm's base-case target of $4,400 a share by 2031. Robotaxis make up most of the value in ARK's model (our story on the model).
- Barclays: The rally follows Monday's upgrade to Overweight with a $450 target, which cited a possible SpaceX combination (details).
- SpaceX merger review: Tesla and SpaceX have each formed special committees of independent directors to evaluate a merger. Any deal would need both committees, both boards and shareholders to approve it, and no terms have been set.
The broader market
Tesla was well ahead of its peers. The Invesco QQQ Trust was up 1.2% and the Global X Autonomous & Electric Vehicles ETF (DRIV) was up 2%. Rivian traded at $11.72 (up 3%) and Lucid at $3.41 (up 0.2%), per 24/7 Wall St.
The risks
TradingKey pointed to Tesla's cut in 2026 capital spending guidance (from more than $25 billion to about $20 billion), a 2.6% operating margin and a 16% year-over-year drop in energy revenue to $2.88 billion in the Q3 10-Q. The merger talks could also end without a deal. This is news, not investment advice.
