Shares of EV maker Tesla (TSLA) are on track for their eighth straight week of losses as their difficult start to 2026 continues. Year-to-date, the stock has fallen by about 23%, while the S&P 500 (SPY) has remained mostly flat. Therefore, investors are now looking closely for any catalyst that could help reverse the trend, but clear updates for several potential drivers have yet to be delivered. For example, Tesla is expected to introduce version three of its Optimus robot this month, but there have been no recent developments, which has made the timing uncertain.
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New trading tool for SPY bullsAt the same time, the company has not yet sold any robots, although Elon Musk says that they are being used in limited ways inside Tesla factories. In addition, Tesla’s Cybercab reached a production milestone in the first quarter, but the vehicles are not yet available for sale, and updates on the robotaxi rollout have been limited. It’s worth noting that Tesla’s valuation is heavily dependent on its AI and robotics plans, with the stock trading at a high forward P/E of around 172.
However, progress in its core auto business could also be important. Reports suggest that Tesla is working on a cheaper electric SUV, although plans are still in the early stages. This could help address the firm’s slowing sales, as new models in different price ranges often attract more buyers. Tesla also recently reported global deliveries of 358,023 vehicles, up 6.3% year-over-year, though comparisons are affected by last year’s production changes. Nevertheless, investors will be watching the April 22 earnings report for more details on performance and any new catalysts.
What Is the Prediction for TSLA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 11 Holds, and eight Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $392.63 per share implies 14.1% upside potential.
