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Tesla (NASDAQ:TSLA) fell on Thursday, 22 October 2026, closing down 3.08% at $374.58 despite a third-quarter beat on both earnings and cash flow. Adjusted earnings per share came in at $0.48 against roughly $0.45 expected, with positive free cash flow of $1.5 billion.
● The company is a recent IPO with a market value of about $191 million.
● RBC cut its price target to $46 from $70.
● Revenue of $990.5 million fell just shy of the roughly $1.00 billion expected.
● The S&P 500 consumer discretionary sector fell.
● The company has a market value of about $55 million.
● Monthly active users reached 788 million, against 758 million expected.
● The move came without a company-specific announcement.
● Consumer staples had their best session since April 2025 and hit a record.
● The consumer discretionary sector fell as Amazon and Tesla slid.
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