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Tesla (TSLA) maintains “Outperform” rating but gets reduced price target from Wedbush

Credit: Tesla China/Twitter

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Wedbush analyst Dan Ives recently posted some insights about electric vehicle maker Tesla. The analyst’s comments were shared following Tesla CEO Elon Musk’s participation in a Twitter Spaces session, where he addressed his TSLA stock sales, among other topics. 

Musk highlighted that while he has sold some of his TSLA holdings this year, he does not plan on selling any more stock for the next 18-24 months. “You have my commitment that I won’t sell any stock till at least two years from now. I won’t sell stock next year under any circumstances,” Musk said. 

In his comments, Ives noted that if Musk was really serious about not selling any more TSLA — and if Tesla’s Board of Directors initiates a buyback and the EV maker posts a conservative guidance for 2023 — then TSLA stock has probably bottomed already. Tesla stock has dipped significantly this year, hitting $125.35 per share on Thursday’s close. 

“We believe if Musk refocuses back on Tesla, truly stops selling stock (walk the walk, not just talk the talk), the Board initiates a buyback, and 2023 guidance is set conservative on its 4Q call in January then this stock has bottomed in our opinion and works from here,” Ives wrote. 

The analyst also noted that for now, Wedbush believes that Tesla’s fourth quarter units will likely be in the 410,000-415,000 range, which would be below the Street’s whisper numbers, which are in the 435,000 range. As such, Ives adjusted his TSLA price target by 30%, from $250 to $175 per share. Ives still remains optimistic about Tesla overall, however, as he maintained his “Outperform” rating on the company.

“We believe 4Q delivery units are now likely in the 410k to 415k range down and below Street whisper numbers in the ~435k range. We maintain our OUTPERFORM rating, while lowering our price target from $250 to $175 reflecting our lowered estimates. Demand cracks given macro,” Ives wrote on Twitter. 

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Disclosure: I am long TSLA.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Musk’s Tesla and SpaceX decline after Democratic Midterm sweep

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Credit: Grok

Tesla and SpaceX shares fell on Wednesday after Democrats swept both chambers of Congress. The decline stood out as broader market securities recovered and turned positive, while both of Musk’s publicly traded companies lagged.

CEO Elon Musk already joked about the unsuccessful campaigning for the Republicans, but now the new party will make pretty drastic changes to how it handles Tesla and SpaceX, and those companies will adjust their outlook.

Elon Musk hilariously comments on Midterm election results

Let’s take a deeper look.

Tesla ($TSLA)

Tesla shares traded lower during the regular session after Democrats secured both the House and Senate. The stock was down 2.32 percent at around 1:45 p.m. on the East Coast, trading at around $389.30.

The pressure is tied to more than the raw scale of Musk’s political spending, estimated at $450–474 million this cycle with roughly $224 million directed at Texas. In that state, Tesla now faces a Democratic governor and a Democratic senator after Gina Hinojosa unseated Greg Abbott and James Talarico defeated Ken Paxton.

The Austin Gigafactory, Robotaxi pilot programs in multiple Texas cities, and any related AI compute expansion sit under a new state executive who campaigned against certain corporate subsidies and floated a moratorium on new data-center construction.

Federally, 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 combination with SpaceX.

Investors are also weighing whether the company’s historically close alignment with the prior Republican leadership will invite slower permitting, additional hearings, or tighter rules on Full Self-Driving deployment.

For Tesla, the political shift adds near-term friction around state permitting and federal regulatory approvals for autonomy and energy storage. A potential merger with SpaceX may face slower review even if it proceeds.

Core growth drivers such as vehicle deliveries, energy deployments, and robotaxi rollout remain intact, yet the stock now carries a higher political-risk premium that could weigh on valuation until the company demonstrates workable relationships with the new Texas leadership and congressional majorities.

SpaceX ($SPCX)

SpaceX shares also declined in live trading on November 4 following the Democratic midterm sweep. The stock traded at $134.97, down 4.49 percent. The drop occurred even as broader indexes stabilized, highlighting a company-specific reaction to the election outcome.

Musk’s large contributions, concentrated in Texas races that both companies lost, place SpaceX’s Starbase launch facility and headquarters under a new Democratic governor.

At the federal level, Democratic control of Congress enables greater scrutiny of NASA, the Department of Defense, and other contracts that support a meaningful share of revenue, along with reviews of Starlink national-security uses and any Tesla merger. Analysts have noted that empowered committees can hold hearings and request documents on these relationships.

For SpaceX, the results raise the risk of delayed contract awards, higher compliance costs, and tighter constraints on AI and satellite infrastructure expansion, particularly in Texas where a data-center moratorium has been discussed.

A merger with Tesla could encounter political friction that slows integration of launch, connectivity, and autonomy capabilities.

While Starlink growth and launch cadence continue as primary drivers, the company faces a more contested path for federal funding and state-level operations, requiring management to rebuild ties with the new congressional majorities and Texas leadership to limit the overhang.

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Tesla registrations in Germany nearly quadruple in October

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Credit: Tesla Manufacturing | X

Tesla’s new vehicle registrations in Germany rose sharply in October, nearly quadrupling from the same month a year earlier. That’s according to data from the KBA, Germany’s federal motor transport authority.

The KBA reported 2,932 Tesla vehicles registered in October, a 290.9 percent year-over-year- increase. For the first ten months of the year, Tesla’s cumulative registrations reached 47,742 units. This number is up 206.1 percent compared with the January-October period of 2025. These gains occurred against a backdrop of strong overall growth in the BEV sector as a whole.

Germany registered 94,086 new BEVs in October, a 79.5 percent rise that brought the BEV share of the passenger car market to 37 percent of the 254,492 total cars registered that month.

Despite the percentage surge, Tesla’s absolute numbers left it with a 1.2 percent share of all new car registrations for October. Chinese competitors did record higher volumes, as BYD registered 5,173 vehicles, a 2 percent share, Leapmotor with 3,661 cars, which equates to 1.4 percent, and Xpeng had a 0.5 percent share.

Year-to-date through October, BYD edged ahead of Tesla with 47,961 registrations versus Tesla’s 47,742.

The October results follow a notably strong September for Tesla in Germany, when it registered 12,552 vehicles, an increase of roughly 269 percent year-over-year and one of its strongest monthly totals on record in the country. That month, the Model Y led all EVs and ranked among the top-selling vehicles of any powertrain.

The figures form part of a broader recovery in Tesla’s European registrations after an extended period of softer demand. While monthly volumes remain subject to typical quarter-end patterns and competitive pressure from both established European brands and rapidly expanding Chinese manufacturers, the year-to-date growth indicates improved traction in Europe’s largest car market.

Tesla’s Gigafactory Berlin-Brandenburg continues to supply the region, positioning the company to capture a share of the expanding German BEV market as overall EV adoptions looks to be accelerating.

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Elon Musk hilariously comments on Midterm election results

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Gage Skidmore, CC BY-SA 4.0 , via Wikimedia Commons

In the early hours of Wednesday following the 2026 midterm elections, Elon Musk took to X with a characteristically irreverent reaction to the results.

“Guess my election-interfering space lasers didn’t work this time,” the Tesla and SpaceX CEO posted, generating hundreds of thousands of likes and widespread attention.

The quip landed after Democrats secured control of both the House and Senate in a sweeping victory. Musk, the largest individual donor of the cycle, had directed an estimated $440–474 million toward Republican candidates and aligned groups—more than any non-candidate in modern history.

Much of the spending targeted Texas, where Musk’s companies have significant operations. There, Democrat Gina Hinojosa defeated incumbent Gov. Greg Abbott, and James Talarico ousted Ken Paxton in the Senate race.

Musk’s “space lasers” joke playfully referenced conspiracy theories that have circulated since the 2024 election, falsely claiming he used Starlink satellites or other technology to influence vote totals. By leaning into the accusation with a shrug emoji, he turned potential criticism into self-deprecating humor:

He followed up with another post observing that “Data centers in space looking pretty appealing right now,” a pointed nod to possible regulatory and infrastructure challenges for data-center projects in Texas under the new Democratic leadership.

Critics quickly highlighted the scale of the spending relative to the outcome. One reply noted that Musk had “dropped half a fucking BILLION on this shit and got dog walked,” underscoring the disconnect between financial outlay and electoral returns. Musk later shared a vintage-style “technical difficulties” image, extending the humorous tone.

The posts arrived as markets reacted: shares of Tesla and SpaceX-related entities dipped in premarket trading amid concerns over heightened scrutiny and shifting state-level politics. Democrats had previously signaled plans to examine Musk’s government ties, DOGE involvement, and business conflicts if they regained congressional majorities.

Musk’s response stands out for its light touch amid high-stakes political setbacks. Rather than offering a detailed defense of his spending or a sober analysis of voter sentiment, he chose sarcasm—consistent with his long-standing style of public communication.

Whether the comments signal a retreat from large-scale political donations ahead of 2028 or simply a momentary shrug remains unclear, but they captured the attention of millions in the immediate aftermath of election night.

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