Tesla stock tests $350 after Roadster sell-the-news drop
Tesla is facing another wave of selling after the long-awaited Roadster unveiling. Investor attention is now shifting toward the upcoming earnings report, which could set the tone for the stock’s next move.
Uncertainty over the Roadster’s delivery timeline complicates its investment narrative. Although production is scheduled to begin in 2028, The Drive reports that Tesla’s reservation terms guarantee neither a delivery date nor that customers will ultimately receive a vehicle. This leaves the timing of any revenue contribution uncertain.
Unconventional technology used in The Roadster is an additional factor which creates uncertainty, particularly in the form of proposed flying capabilities of the vehicle. The Roadster will definitely meet serious resistance from the regulatory authorities and thus raise even more doubts about its commercial success.
The $350 level becomes critical after the latest sell-off
Tesla stock fell sharply on October 16, losing more than 4% from its intraday high. The stock broke below the previously identified $372 level and closed at $354.72.
That move invalidated the prior bullish setup and produced a classic sell-the-news reaction following the Roadster presentation.
The stock has since tested support at $350 and remains above it for now. If today’s session closes below that level, the risk of a deeper move into the $342–337 zone would rise considerably.
If $350 holds, Tesla could still stage a short-term rebound toward the 50-day SMA near $359.
October 21 earnings could trigger another wave of volatility
Tesla’s quarterly earnings report on October 21 is the next major catalyst. The company delivered 486,532 vehicles in the third quarter and deployed 13.7 GWh of energy storage systems.
Investors will now be looking at how those operating figures translated into revenue, margins and cash flow.
With uncertainty around the Roadster still elevated and the stock coming off a fresh selloff, volatility may remain high. Even a strong earnings report would not rule out another sell-the-news reaction, particularly if management provides cautious guidance.
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