Tesla shares have rallied sharply in early November 2026, climbing from the low $340s to trade near $390–$400 amid renewed focus on autonomous driving and robotics. The primary driver is Tesla’s decision to wind down Cybertruck production at Gigafactory Texas by mid-2027 to accelerate Cybercab output, paired with robotaxi service expansion to San Antonio and confirmation of 24/7 operations across active cities. These moves reinforce the narrative that high-margin autonomy revenue will scale meaningfully in 2027. Speculation around a potential SpaceX-Tesla merger, with possible announcement as early as December, has added momentum. Q3 results showed revenue near $28 billion but missed estimates, while analyst consensus targets sit around $412. Traders are watching merger updates, regulatory progress on FSD, and any shifts in EV demand or production guidance as the week concludes.