Tesla (TSLA) shares fell 1.52% to $356.92 on Friday, down $5.52 from the previous close of $362.44, according to Yahoo Finance (as of 4:39 p.m. UTC). The decline came despite Elon Musk unveiling a new Roadster prototype equipped with technology developed in collaboration with SpaceX.
According to Yahoo Finance data (as of 4:39 p.m. UTC on October 16), the stock opened at $369.04 and moved as high as $370.58 before falling to an intraday low of $356.26. Shares were trading near the session low, indicating a reversal from the opening level. Trading volume reached approximately 37.22 million shares, close to the reported average volume of 37.29 million. Tesla’s market capitalization stood at about $1.41 trillion, while its price-to-earnings ratio was 330.52, based on trailing earnings.
The demonstration took place on October 15 at a SpaceX rocket testing facility near McGregor, Texas. Musk appeared alongside Tesla executives as the prototype performed brief airborne maneuvers using cold-gas thrusters.
The share decline coincided with the unveiling, but the available market data does not establish whether the event influenced trading.
Roadster prototype shows SpaceX-developed thrusters
Musk shared footage of the demonstration on X, writing, “Turns out the future does have flying cars.” The prototype performed a jump and mid-air maneuver in front of several Tesla vehicles, including the Cybertruck, Semi, and Cybercab. The demonstration highlighted the use of cold-gas thrusters developed through Tesla’s collaboration with SpaceX.
Tesla has also described a suction-based system designed to generate downforce for track performance. The thrusters are intended to enable brief lifts and additional maneuvering, although the demonstration does not establish how the technology will be incorporated into a production vehicle.
Musk said the car shown was the model intended for road use but acknowledged potential regulatory questions surrounding versions equipped with thrusters.
Tesla keeps 2028 Roadster target
According to the official website, Tesla has not published final retail pricing or a detailed production schedule beyond its 2028 target. The company is offering different configurations, including Performance and Thrust versions available through reservations. The Rocket trim, which features perimeter thrusters for more extensive maneuvering, is limited to invited customers.
Tesla has also said that the initial reservation payment is refundable. Reservations are not finalized until the full deposit has been received. The absence of final pricing and a detailed production timetable leaves key commercial details unresolved ahead of the planned launch.
Hyperliquid’s TSLA perpetual market trades lower
Tesla-linked perpetual contracts on Hyperliquid also traded lower. The TSLA-USDC contract, listed under the xyz market, was priced at $356.61, down 0.93% over 24 hours. The market recorded approximately $248.3 million in 24-hour trading volume, with open interest of $79.7 million. Its mark price was $356.61, while the oracle price stood at $356.58, according to data from Hyperliquid (as of 4:39 p.m. UTC on October 16).
The contract offers up to 20x leverage. However, it tracks a tokenized representation of Tesla’s stock price on Hyperliquid and is separate from shares traded on the Nasdaq.
Tesla delivered 486,532 vehicles in third quarter
Tesla reported third-quarter production of 464,391 vehicles and deliveries of 486,532 vehicles, according to figures released on October 2. Model 3 and Model Y accounted for 457,387 vehicles produced and 478,237 deliveries. Production of other models totaled 7,004 units, while deliveries reached 8,295.
The company also deployed 13.7 gigawatt-hours of energy storage products during the quarter. Tesla is scheduled to publish its third-quarter financial results after the market closes on October 21. Management will hold a webcast at 5:30 p.m. Eastern Time to discuss the results and business outlook.
The earnings release will provide investors with additional information on the company’s financial performance following the latest vehicle delivery figures.
Also Read: Will Tesla Stock Price Go Up Today? Elon Musk Unveils Flying Car Roadster
