Tesla's stock climbed about 1.9% to around $425 on Tuesday, driven by CEO Elon Musk's comments on ramping up the robotaxi fleet and Semi production. Investors reacted positively to news of potential $165 million in California incentives for the electric Semi and a promotion in global sales leadership. However, concerns linger over executive departures and competitive pressures.
Tesla Inc. (NASDAQ: TSLA) shares increased 1.9% during mid-day trading on Tuesday, February 10, 2026, reaching a high of $427.25 and last trading at $425.21. Volume stood at approximately 64 million shares, up slightly from the average daily volume of 63.7 million. The stock had closed at $417.32 the previous day.
The rally followed upbeat developments highlighted in recent reports. Elon Musk reiterated plans to ramp up production of the Tesla Semi truck in 2026 and expand the robotaxi fleet aggressively. Musk stated that over 500 robotaxis currently operate in Austin and San Francisco, carrying paid riders, with projections for the fleet to double monthly and cover 25-50% of the U.S. by year-end, subject to regulatory approvals. Independent tracking from Robotaxi Tracker indicates only four of Tesla's 58 vehicles in Austin operate fully unsupervised.
Additional positive factors include a potential $165 million in California clean-truck incentives for the Semi, which could reduce fleet purchase costs and support commercial truck volumes. Bloomberg reported Tesla promoted its Europe head to run global sales, seen as strengthening commercial execution.
Offsetting these gains, Tesla faces challenges. Raj Jegannathan, a 13-year Tesla veteran who led North American sales and IT initiatives, announced his departure. Labor tensions escalated in Germany, where Tesla filed a criminal complaint against a union member for secretly recording a works council meeting. Chinese rival BYD sued the U.S. government over a 100% EV tariff, potentially intensifying competition if successful.
Analysts maintain a split view, with a consensus "Hold" rating and an average price target of $403.92. Seventeen analysts rate it Buy, fourteen Hold, and nine Sell. Recent adjustments include Royal Bank of Canada at $500 (Outperform) and Wells Fargo at $125 (Underweight). Tesla's P/E ratio stands at 393.71, reflecting high valuations amid AI and robotics focus, including the upcoming Optimus humanoid robot launch in Q1 2026.
Tesla's Q4 2025 earnings showed $0.50 per share, beating estimates of $0.45, with revenue of $24.90 billion, down 3.1% year-over-year. The company plans $20 billion in capital spending for 2026.
