Updated November 11, 2025
Key Takeaways
- Price: Tesla (NASDAQ: TSLA) traded around $439.6, down roughly 1.3% midday, with today’s range between $432.36–$442.49 and a 52‑week range of $214.25–$488.54. Equity markets are open while U.S. bond markets are closed for Veterans Day, a setup that can thin liquidity and amplify swings. [1]
- China drag: October China sales fell to 26,006 units, Tesla’s lowest in three years, while exports from Shanghai rose, keeping the China debate front and center for investors. [2]
- Governance + filings: After last week’s shareholder vote, Elon Musk’s 2025 CEO Performance Award was formalized in SEC Form 4 filings covering 423,743,904 restricted shares across 12 tranches—subject to stringent performance conditions and a voting agreement/proxy. [3]
- Demand lever: Tesla rolled out a direct rental program—starting at $60/day—from select U.S. stores (e.g., San Diego Miramar), including free Supercharging and access to FSD (Supervised) for 3–7 days. [4]
- Street tone: A fresh Truist note says TSLA’s “physical AI” story (FSD, robotaxis, Optimus) remains harder to recommend near‑term; rating Hold with a $406 target. [5]
- Leadership churn: Program heads for Cybertruck and Model Y disclosed departures this week, adding to personnel turnover narratives. [6]
TSLA Price Action: What’s Moving the Tape
Tesla shares edged lower on Tuesday, November 11, 2025, hovering near $439.6 in afternoon trading. The stock’s day range sat at $432.36–$442.49, within a 52‑week band of $214.25–$488.54. With U.S. bond markets closed for Veterans Day and equities open, liquidity is thinner than usual, which can magnify reactions to headline risk. Broader tech sentiment was mixed as investors re‑assessed AI valuations. [7]
The Big Tesla Headlines Today (11/11/2025)
1) China Sales Hit a Three‑Year Low
New China Passenger Car Association data—reported by Reuters—show Tesla’s October China sales fell to 26,006, down 35.8% year over year and the lowest since 2022. Tesla’s China EV market share slipped to 3.2%, although exports rose to 35,491, the highest in two years. The China print continues to shape expectations for Q4 deliveries and margin cadence. [8]
2) Musk’s New Package, Now on EDGAR
Following the shareholder approval on November 6, Tesla filed Form 4 documents confirming 423.7 million restricted shares under the 2025 CEO Performance Award, split into 12 performance‑based tranches. The filing notes a voting agreement and irrevocable proxy; in other words, these aren’t free‑and‑clear votes in Musk’s pocket and the shares must be earned by hitting pre‑set milestones. Tesla also filed an S‑8 related to the equity plans last week. [9]
3) $60/Day Rentals: A New Demand Stimulus
Tesla is renting vehicles directly from certain stores (e.g., San Diego Miramar) for 3–7 days, with pricing starting at $60/day. The program includes free Supercharging and lets renters try FSD (Supervised); a purchase within seven days can qualify for up to a $250 credit. The initiative looks tailored to convert fence‑sitters amid a post‑tax‑credit demand reset in the U.S. [10]
4) Street Check: “Harder to Recommend” Near‑Term
Truist Securities reiterated a Hold and $406 price target, arguing that while Tesla’s long‑term upside is tied to FSD, robotaxis, and Optimus, those “physical AI” businesses are largely unproven and contribute minimal current revenue. For now, the auto and energy segments still do the heavy lifting, and 2026+ commercialization timelines carry execution and regulatory risk. [11]
5) Program Leads Exit Cybertruck and Model Y
On Monday, Siddhant Awasthi, head of Cybertruck, and Emmanuel Lamacchia, Model Y program manager, disclosed their departures. While senior‑staff turnover doesn’t automatically derail programs, it can complicate ramp and refresh cycles already under scrutiny. [12]
Why It Matters for TSLA’s Setup
- Near‑term fundamentals: China softness and U.S. demand normalization keep investors focused on deliveries, mix, and price vs. incentives, all of which feed through to gross margin and free cash flow. Today’s China data reinforce the idea that exports help, but domestic share is the pressure point. [13]
- Narrative vs. numbers: The AI‑heavy narrative (FSD/robotaxis/Optimus) continues to command a valuation premium, but the revenue clock for those businesses is still starting. That’s why notes like Truist’s weigh the longer‑dated optionality against execution/regulatory timelines. [14]
- Governance optics: Finalizing Musk’s Form 4 crystallizes the “pay for performance” architecture. The tranche‑based design (and voting arrangement) matters for ownership/vote math and for investors tracking how compensation aligns with tangible operating milestones. [15]
- Market context: With bond markets closed and equity markets open, Veterans Day often means lighter volumes. Add a wobbly AI tape, and intraday moves can overshoot. [16]
TSLA Snapshot (as of publication)
- Price: ~$439.6 (~‑1.3% on the day)
- Today’s range: $432.36–$442.49
- 52‑week range: $214.25–$488.54
Figures sourced from Reuters/LSEG; prices delayed ~15 minutes. [17]
What to Watch Next
- November China data (CPCA) and weekly/high‑frequency indicators on domestic demand. [18]
- Rental program rollout beyond California, utilization rates, and conversion to orders. [19]
- Regulatory signals for FSD and any updates on robotaxi pilots and Optimus roadmap that could pull forward—or push back—monetization. [20]
- Leadership bench: whether program‑management exits trigger re‑orgs or timing changes on product ramps. [21]
Quick FAQ
Why is Tesla stock down today?
A weak China sales print for October and mixed tech sentiment weighed on the shares, with trading conditions thinned by the Veterans Day bond‑market closure. [22]
Did shareholders really approve a new Musk pay package? What changed today?
Yes—approved Nov. 6. What’s new is the Form 4 record on EDGAR documenting the restricted shares tied to the 12 performance tranches and the voting agreement/proxy. [23]
Can you really rent a Tesla from Tesla now?
Yes. Tesla confirmed 3–7‑day rentals starting at $60/day at select stores (e.g., San Diego Miramar) with free Supercharging and access to FSD (Supervised). A quick purchase afterward can earn up to a $250 credit. [24]
This article is for information only and is not investment advice. All prices and market data are indicative and subject to change.
References
1. www.reuters.com, 2. www.reuters.com, 3. www.sec.gov, 4. www.tesla.com, 5. www.marketwatch.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.sec.gov, 10. www.tesla.com, 11. www.marketwatch.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.marketwatch.com, 15. www.sec.gov, 16. www.reuters.com, 17. www.reuters.com, 18. www.reuters.com, 19. www.tesla.com, 20. www.marketwatch.com, 21. www.reuters.com, 22. www.reuters.com, 23. www.sec.gov, 24. www.tesla.com
