EL7.AI
StocksMediumUpdated•Originally published 9 June 2026•Updated 10 June 2026•
1 min read

Tesla Shares Climb Past $400 as Markets Eye SpaceX IPO Launch

Key Facts

1Tesla's retail sales in China rose 22.5% year-over-year in May.
2The Model Y led the wholesale rebound, supported by a refreshed lineup and aggressive financing offers.

In a move reflecting renewed investor confidence in Elon Musk's broader ecosystem, Tesla (TSLA) shares climbed 3% to reach $403.65 in early Monday trading. According to reports, the stock successfully recovered ground lost during a sharp decline late last week, driven primarily by intense market anticipation surrounding the highly expected initial public offering of SpaceX, which is viewed as a pivotal catalyst for the tech sector this week.

This price rebound builds on recent fundamental strength following Tesla's 22.5% sales jump in China during May, which snapped a two-month losing streak. While local competition remains intense—with BYD reporting record sales of over 330,000 units, a 38% annual increase per market data—the sentimental link between SpaceX's valuation milestones and Tesla's stock performance continues to act as a significant driver for retail and institutional liquidity.

Monitoring current levels, TSLA shares are trading at $403.65 (as of June 10, 2026), up from the previous close of $396.68. Investors are looking ahead to the U.S. Initial Jobless Claims on June 11, 2026, for macro direction, while the primary focus remains on any official updates regarding the SpaceX IPO timeline to determine if the stock can sustain its momentum above the $400 psychological threshold.