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Summary
Tesla (TSLA) fell 1.32% to $398.50 on November 3, 2026, while the Nasdaq Composite rose 0.83%.
Financial media did not tie the drop to a single company event, with October China sales and the Fort Worth Robotaxi expansion in focus, per GuruFocus.
CPCA data cited by GuruFocus showed China-made sales up 10.3% from a year earlier but down 28.9% from September.
Gotrade News - In the latest Tesla stock news, shares of Tesla (TSLA) fell $5.32, or 1.32%, to close at $398.50 on Tuesday, November 3, 2026, even as the Nasdaq Composite gained 0.83%. Tesla stock moved lower with October sales data from its Shanghai factory and a Robotaxi expansion into Fort Worth in focus, though GuruFocus said the Fort Worth news "does not establish what drove the day's decline."
TSLA Trading Data
Data
Value
Closing price
$398.50
Change
-$5.32 (-1.32%)
Previous close
$403.82
Open
$406.25
Day range
$396.54 to $406.49
Volume
26.6 million shares
30-day average volume
36.7 million shares
52-week range
$297.38 to $498.83
Market cap
$1.58 trillion
Regular-session close on Tuesday, November 3, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 4, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Tesla opened at $406.25, above the previous close of $403.82, and touched a session high of $406.49 before turning lower. The stock fell as far as $396.54 and finished just $1.96 above that low, near the bottom of the day's range.
Trading was lighter than usual. Volume came in at 26.6 million shares, 27.38% below the 36.7 million share average.
The decline stood out against a firmer market. The Nasdaq Composite rose 0.83% to 25,372.01 and the S&P 500 added 0.36% to 7,568.92, while the Dow Jones Industrial Average slipped 0.38% to 51,786.72. Tesla trailed the Nasdaq by 2.15 percentage points on a day when the 10-year Treasury yield climbed 5.8 basis points to 4.95%.
Elsewhere, Nvidia (NVDA) gained 2.29% to $206.69 and fellow electric vehicle maker Rivian (RIVN) rose 0.76% to $13.29. Tesla now sits 20.11% below its 52-week high of $498.83 and 34.00% above its 52-week low of $297.38.
Why Tesla Stock Fell
No source we reviewed named a company-specific cause for Tuesday's drop, which came against a rising Nasdaq and gains in most large technology names. Three dated items were in view during the session.
First, according to GuruFocus, China Passenger Car Association (CPCA) data showed Tesla sold 67,829 China-made Model 3 and Model Y vehicles in October, up 10.3% from a year earlier. That was down 28.9% from September's 95,366 units, the Shanghai factory's best month of 2026, and the figures include exports as well as cars sold to Chinese buyers.
Second, GuruFocus reported that Robotaxi service expanded into Fort Worth, joining Austin, Dallas and Houston in Tesla's Texas network. The outlet noted the launch post left fleet size, pricing and whether the Dallas and Fort Worth service areas would connect unanswered.
Third, as reported by Decrypt, an updated notice dated Monday, November 2, added Tesla and SpaceX (SPCX) to the companies objecting to OKXICE TSV, a planned tokenized stock venue run as a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX's US holding company. Under the SEC's innovation exemption, a written objection within 30 days keeps that stock off the venue, and the objector count rose to 56.
TSLA Stock Analysis: Supporting Factors and Risks
Supporting Factors
October was the 12th straight month of year-over-year growth in China-made sales, according to GuruFocus.
Shanghai exports more than doubled to 361,972 vehicles from January to September, per GuruFocus, with South Korea taking roughly one fifth.
With Fort Worth added, Robotaxi now serves four Texas cities, GuruFocus reported.
Risks
Tesla's 10.3% growth lagged the roughly 12% rise in industry-wide new energy passenger car wholesale sales in October, GuruFocus said.
Domestic China deliveries fell 11.9% to 381,088 from January to September, per GuruFocus, so the headline Shanghai figure does not show domestic demand on its own.
Without a disclosed fleet size or pricing, the revenue impact of the Fort Worth launch is hard to measure, GuruFocus noted.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
