Tesla Inc (NASDAQ: TSLA) closed at $436.00, down 5.11% with trading volume hitting 135 million shares. Markets ended higher with the S&P 500 and Nasdaq Composite adding 0.062% and 0.39% respectively, fueled by tech and growth stocks. Tesla reported record third-quarter deliveries of 497,099 vehicles due to customers rushing to seize the $7,500 U.S. EV tax credit before it expired. With lease prices raised post-credit expiration, investors are questioning demand sustainability. Focus shifts to Tesla’s fourth-quarter delivery guidance and margin trends to demonstrate ongoing strength without incentives. Rivian Automotive Inc (NASDAQ: RIVN) fell 7.39%, while NIO Inc – ADR (NYSE: NIO) rose 3.20%.

Read more at Nasdaq: Stock Market Today: Tesla Drops Despite Record Deliveries and Subsidy-Driven Demand