Tesla, Inc. (TSLA) is down 10.70% at $343.97 in Thursday's session, as Reuters reported that midterm election results have clouded the outlook for data centers and merger activity affecting Tesla and SpaceX. The move follows a separate report from Fortune and Business Insider describing steep losses in Elon Musk's personal wealth tied to both companies' declining share prices.
| Measure | Value |
|---|---|
| Price | $343.97 |
| Change from the prior close | -10.70% |
| Prior close | $385.19 |
| Today's range | $338.15 – $374.23 |
| 52-week range | $297.38 – $498.83 |
| Market value | $1.36 trillion |
Source: Stock quote during the regular session · as of November 5, 2026 at 2:45 PM ET
What was reported
Reuters reported that Tesla and SpaceX extended their losses as midterm election outcomes raised uncertainty around data center expansion and potential merger plans. Fortune reported that Tesla and SpaceX shares fell overnight following the election, citing data from the Financial Times showing Elon Musk had contributed close to half a billion dollars toward Republican campaigns this cycle without the intended political payoff, and noted additional declines in SpaceX shares the following day. Business Insider reported that Tesla and SpaceX shares both lost more than 3% in the prior session, erasing a substantial portion of their joint valuation, following what it described as a difficult outcome for Musk-backed political spending, including sizable contributions directed toward races in Texas where Democratic candidates ultimately won. Business Insider added that Musk's net worth fell by billions of dollars that day as a result. Separately, traders on X have been discussing Tesla's move as part of a wider technology and artificial intelligence sector selloff, with conversations centered on concerns that political shifts in Congress could lead to new restrictions on data centers and greater scrutiny of AI infrastructure spending, alongside broader unease about leadership-related political risk.
Its suppliers and customers
Suppliers named in Tesla's company filings include Quanta Services, TSMC (Taiwan Semiconductor Manufacturing Company), NVIDIA, Panasonic, Contemporary Amperex Technology Co. Limited (CATL), Samsung and Micron. Of these, Quanta Services, TSMC and NVIDIA are trading lower today, each down between roughly 8% and 11%, while Panasonic, CATL, Samsung and Micron have no current quote available; none of these moves should be read as connected to Tesla's decline today.
| Company | Role | Stock | Today |
|---|---|---|---|
| Quanta Services | Supplier | PWR | -11.08% |
| TSMC | Supplier | TSM | -8.62% |
| NVIDIA | Supplier | NVDA | -7.83% |
| Panasonic | Supplier | Not listed | — |
| Contemporary Amperex Technology Co. Limited (CATL) | Supplier | Not listed | — |
| Samsung | Supplier | Not listed | — |
| Micron | Supplier | Not listed | — |
Source: Relationships named in company filings (Earnings call transcript; SEC 10-K annual report); stock quotes · as of November 5, 2026 at 2:45 PM ET · A supplier or customer moving the same day is not evidence that one move caused the other.