Tesla (TSLA) shares rose 6% to $394.72 after Barclays upgraded the stock to Overweight from Equal Weight and set a price target of $450. Analyst Dan Levy cited a potential takeover premium from a possible merger with SpaceX (SPCX), along with an expected return to growth in the automotive business driven by Full Self-Driving adoption and higher exports from the Shanghai factory. CEO Elon Musk confirmed the two companies have formed independent committees to explore a combination but stressed that a deal is not certain. Meanwhile, Lucid Group (LCID) fell 4% to $3.38 and Rivian Automotive (RIVN) slipped 2% to $11.64, as neither company is part of the merger discussion. The Global X Autonomous & Electric Vehicles ETF (DRIV) rose 0.5% and the Invesco QQQ Trust (QQQ) gained 0.7%, both well behind Tesla's move.
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TSLASpaceXmergers and acquisitionsElon Musk
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Related tickers and likely impact
TSLA
▲ Likely positiveTesla, Inc.
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.5T |
| Close on 10/23/2026 | 372.21 |
| Change that session | -0.63% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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