Tesla shares opened near $368 on September 28, 2026, and traded down roughly 3.8% intraday to the $357–362 range, reflecting pressure from elevated valuations after a Q2 earnings miss on EPS despite revenue and delivery beats. Market focus remains on autonomy initiatives including Cybercab deployment, Optimus scaling challenges, and Semi truck volume production, offset by EU delays on Full Self-Driving approval and core automotive margin compression. Analyst consensus targets cluster near $377–411 with mixed hold ratings, while Q3 results due around October 21 represent the next key catalyst. High trailing P/E above 330x and sensitivity to robotaxi timelines continue to drive volatility in trader positioning.