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Summary
Tesla (TSLA) fell 3.34% to $385.19 on November 4, 2026, while the Nasdaq Composite rose 1.44%.
Financial media tied the drop to the Democratic sweep of both chambers of Congress in the November 3 midterms, where Elon Musk was the largest individual donor according to Investor's Business Daily.
Teslarati said Democratic control of key committees opens the door to deeper examination of Tesla's autonomous-driving safety record and of any Tesla and SpaceX combination.
Gotrade News - In the latest Tesla stock news, shares of Tesla (TSLA) fell 3.34% to close at $385.19 on Wednesday, November 4, 2026, even as the major US indices rallied. Financial media tied the Tesla stock decline to the Democratic sweep of both chambers of Congress in the November 3 midterm elections, a setback for Elon Musk, who was the largest individual donor in the midterms according to Investor's Business Daily.
TSLA Trading Data
Data
Value
Closing price
$385.19
Change
-$13.31 (-3.34%)
Previous close
$398.50
Open
$379.80
Day range
$375.50 to $392.04
Volume
47.8 million shares
30-day average volume
36.6 million shares
52-week range
$297.38 to $498.83
Market cap
$1.52 trillion
Regular-session close on Wednesday, November 4, 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 5, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Tesla opened at $379.80, well below the previous close of $398.50, and traded between $375.50 and $392.04. It closed $9.69 above the day's low, recovering part of an early loss that had reached more than 5 percent, as reported by First for Money citing The New York Times. Volume came in at 47.8 million shares, 30.47% above the 36.6 million share average.
The decline ran against a strong session for the broad market. The Nasdaq Composite rose 1.44% to 25,736.51, the S&P 500 gained 1.58% to 7,688.62 and the Dow Jones Industrial Average climbed 3.03% to 53,356.12, leaving Tesla 4.78 percentage points behind the Nasdaq. The US 10-year Treasury yield fell 5.8 basis points to 4.89%.
SpaceX (SPCX), the other Musk-run company named in the election coverage, fell 3.81% to $135.92, while electric vehicle maker Rivian (RIVN) rose 5.79% to $14.06. At the close, Tesla stock sat 22.78% below its 52-week high of $498.83 and 29.53% above its 52-week low of $297.38.
According to Teslarati, "Tesla and SpaceX shares fell on Wednesday after Democrats swept both chambers of Congress," and the stock stayed lower as the broader market turned positive. The move followed the November 3 midterms, in which Democrats won control of both the House and the Senate.
Musk had campaigned heavily on the other side. Citing The New York Times, First for Money reported that he put at least $474 million into the midterms to help keep Republicans in power, with about $224 million going to Texas races. In Texas, Democrat James Talarico defeated Republican Ken Paxton in the US Senate race and Democrat Gina Hinojosa won the governorship.
The coverage also pointed to closer scrutiny of Musk's companies. SpaceX and Tesla are reportedly exploring a merger, and The New York Times noted that the Democrat-controlled Congress "could poke holes in the plan," as cited by First for Money. The same report quoted Democratic Sen. Edward J. Markey of Massachusetts, who wrote in reply to a post about Big Tech executives: "They are going to need to plant new forests for all of the subpoenas we'll be printing."
TSLA Stock Analysis: Supporting Factors and Risks
Supporting Factors
Teslarati wrote that "core growth drivers such as vehicle deliveries, energy deployments, and robotaxi rollout remain intact" after the election result.
Tesla recovered part of its early loss, closing $9.69 above the day's low of $375.50 after First for Money reported an early decline of more than 5 percent.
Risks
Per Teslarati, Democratic control of key committees opens the door to deeper examination of Tesla's autonomous-driving safety record, federal energy-storage and manufacturing incentives, and the national-security implications of any Tesla and SpaceX combination.
In Texas, Teslarati noted that the new state executive campaigned against certain corporate subsidies and floated a moratorium on new data-center construction, which it tied to the Austin Gigafactory and Texas robotaxi pilots.
Tesla and SpaceX are reportedly trying to build a $100 billion chip plant in Texas, and First for Money wrote that "with Democrats in power, Musk's plans could be impacted."
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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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.
