Tesla shares opened sharply higher on October 2, 2026, after the company reported third-quarter vehicle deliveries of 486,532 units, exceeding consensus estimates of roughly 457,000–462,000 and marking a modest 2% year-over-year decline amid easier prior-year comparisons. The beat, supported by improved European demand and inventory drawdowns, lifted the stock more than 5% intraday from the prior close of $354.11, with trading near $371–372 amid elevated volume. Traders are weighing the positive signal for 2026 delivery growth against margin pressures and the upcoming October 21–28 earnings release, where full self-driving adoption, energy storage margins, and capital expenditure trends could further influence sentiment. Broader equity market moves and analyst price targets averaging around $390–460 also frame near-term closing levels.