Tesla Stock’s October Shock: Record Sales, New “Affordable” Models & Wall Street’s Verdict
Tesla stock surged to the mid-$450s after record Q3 deliveries, then fell 4% to around $435 following the Oct. 7 launch of cheaper Model Y and Model 3 trims. Q3 deliveries hit 497,099, far above estimates, but analysts warn Q4 demand may weaken after U.S. tax credits expired. The new “Standard Range” models underwhelmed investors, triggering the stock drop. Analyst price targets range from $410 to $600.