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Tesla stock fell 2.13% on October 16, 2026, as investors moved past the Roadster reveal featuring SpaceX thrusters and shifted focus to upcoming Q3 earnings. The Roadster demo sparked SpaceX-Tesla merger speculation, with prediction markets showing 56% odds of a deal. Broader market weakness also affected EV peers Rivian and Lucid.
Morgan Stanley analyst Andrew Percoco maintains Lucid Group (NASDAQ:LCID) with a Underweight and lowers the price target from $5 to $3.
RBC expects Lucid’s quarterly revenue to reach $351 million, below consensus, and anticipates weaker gross margins due to lower fixed-cost absorption.
Lucid plans more than 16 French partner locations by 2027, adding a new premium EV rival for Tesla as it works to scale deliveries.