Tesla Stocks Rise After Elon Musk Reveals Highly Anticipated Flying Roadster: ‘Well, It Worked’ Instagram/Tesla Motors Michael Gioia Fri, October 16, 2026 at 12:31 PM EDT 2 min read TSLA -1.56% SPCX -1.78% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Elon Musk must be flying high after Tesla's Roadster soared to amazing heights this week.
The automotive giant's highly anticipated Roadster was shown Thursday, October 15, at a SpaceX rocket testing facility in Texas. The demonstration started at 7:55 p.m. CT, a wink at 1955, the year the fictional character of Marty McFly travels to in Back to the Future.
As seen in clips, the car hovered off the ground and over other vehicles, did flips in the air and landed safely back on the ground.
"Turns out the future does have flying cars," the company's CEO, 55, wrote on X.
Following the impressive display, Yahoo Finance reported that Tesla stock rose as much as 5.4 percent during premarket trading on Friday, October 16.
After the Roadster flew over several Teslas, it landed back on the ground using its gas thrusters. The vehicle also reportedly accelerated to 60 mph in less than a second (0.81 seconds).
"Well, it worked," Musk said, per Yahoo! Finance. "We enter production in 2028."
According to the outlet, prospective buyers would need to put down a $5,000 deposit, followed by a $45,000 wire transfer due within 10 days of the initial deposit.
While the actual cost of a Roadster is unknown, it is expected to exceed $250,000.
As First for Money reported, billionaire investor Ron Baron recently praised the Full Self-Driving (FSD) capabilities of Musk's Teslas and said people should invest in the company.
"The time to buy the stock is now. All this FSD is catching on, and it's gonna be bigger and bigger and bigger," Baron, 83, said during a recent appearance on CNBC's Squawk Box. "Fifty five percent of the new people that are getting it are buying this with the self-drive. It's gonna be everywhere. It's safer."
Baron Capital also has $25 billion worth of SpaceX shares, and Baron said he has $5 billion of his own shares in SpaceX.
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