Core Insights - Tesla's stock experienced a 31.9% change from July 12, 2025, to October 10, 2025, primarily driven by a 37.0% change in the company's P/E multiple [1][2] Factors Behind Stock Change - Tesla's record Q3 2025 vehicle deliveries exceeded analyst expectations, driven by a rush of customers purchasing EVs before the expiration of the $7,500 US federal tax credit on September 30, 2025, which initially boosted stock optimism [6] - CEO Elon Musk's purchase of approximately 2.57 million shares, valued at around $1 billion, enhanced investor confidence in Tesla's long-term vision, particularly regarding AI initiatives and product pipeline [6] - The announcement of cheaper "Standard" versions of the Model Y and Model 3 on October 7, 2025, led to a stock decline as investors anticipated more significant price cuts or new models, raising concerns about potential impacts on higher-priced vehicle sales and margins [6] - Continued advancements in Full Self-Driving technology, including the deployment of FSD version 13 and the upcoming version 14, along with expanding Robotaxi trials, kept investor focus on Tesla's long-term growth potential beyond vehicle sales [6]