Elon Musk

Note

Tesla

Bank

On Oct. 15, <a href="https://www.thestreet.com/crypto/technology/indias-starlink-delay-is-a-crime-against-its-people-musk-says" rel="noopener noreferrer nofollow">Elon Musk</a><a href="https://www.theguardian.com/technology/2026/oct/16/elon-musk-reveals-worlds-first-flying-car-spacex" rel="noopener noreferrer nofollow">unveiled</a>&nbsp;a new <a href="https://www.thestreet.com/crypto/markets/elon-musks-2025-tesla-pay-could-buy-nearly-10-of-all-bitcoin" rel="noopener noreferrer nofollow">Tesla</a> (Nasdaq: TSLA) car model which he called a "flying car."
The car model named Roadster 2 uses technology from Musk's aerospace company <a href="https://www.thestreet.com/crypto/markets/spacexs-bitcoin-stash-has-lost-millions-this-year-heres-what-musks-company-still-holds-now" rel="noopener noreferrer nofollow">SpaceX</a> (Nasdaq: SPCX).
<blockquote class="twitter-tweet">
 Turns out the future does have flying cars <a href="https://t.co/6fexPp6SXI" rel="noopener noreferrer nofollow">pic.twitter.com/6fexPp6SXI</a>— Elon Musk (@elonmusk) <a href="https://x.com/elonmusk/status/2110913107094606330?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 16, 2026</a>
</blockquote>
The demonstration <a href="https://edition.cnn.com/2026/10/15/business/tesla-unveils-what-it-says-is-a-flying-car" rel="noopener noreferrer nofollow">took place</a> at SpaceX's&nbsp;Texas facility. The two-person car&nbsp;—&nbsp;unmanned during the test&nbsp;—&nbsp;used jets to leap over a queue of Tesla’s existing models parked side-by-side. It then used the jets off to accelerate to 60 mph in a record time of less than a second.
<blockquote>
 “Success is not guaranteed,” Musk told the audience. “I mean that. It’ll probably work, but if it doesn’t work, we’re at a safe distance.”
</blockquote>
The world's wealthiest individual is among the most ambitious tech tycoons right now.
Whether it's futuristic technologies like flying cars or space colonies, or trending ones like artificial intelligence (AI) or cryptocurrency, he has a stake in all.
Both Tesla and SpaceX make extensive use of AI in their products and also hold Bitcoin (BTC) on their balance sheets.
<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3>
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<h2 id="tesla-stock-and-contract-slip">Tesla stock and contract slip&nbsp;</h2>
However, Musk's demonstration of the "flying car" did not manage to impress Tesla investors.
The company's stock was trading at $351.70 at the time of writing, down 2.96% on the day.
<figure><a href="https://finance.yahoo.com/quote/TSLA/" rel="noopener noreferrer nofollow"><img src="https://www.thestreet.com/.image/c_fit%2Ch_675%2Cw_1200/MjI2OTU5NzAwMzg4NzUxMjQ2/screenshot-2026-10-16-235853.png" height="675" width="1147"></a>
 <figcaption>TSLA stock, Source: Yahoo Finance
 </figcaption>
</figure>
Even crypto traders, who are among Musk's biggest fans, didn't show any enthusiasm for Tesla-linked contracts on&nbsp;<a href="https://www.thestreet.com/crypto/markets/hyperliquid-loses-anthropic-openai-markets" rel="noopener noreferrer nofollow">Hyperliquid</a>.
A <a href="https://1inch.com/" rel="noopener noreferrer nofollow">decentralized crypto exchange</a> built primarily to trade high-leverage perpetual futures, Hyperliquid lets traders speculate on commodities, equities, and private-company valuations through blockchain-based markets.
Tesla's&nbsp;Hyperliquid&nbsp;contract tracks the value of 1 share of common stock in&nbsp;Tesla. So far, the contract's performance has closely followed the price action of the Nasdaq-listed stock.
Note that the contract is only a synthetic version of the original Tesla stock and isn't officially affiliated with it.
<figure><a href="https://app.hyperliquid.xyz/trade/xyz:TSLA" rel="noopener noreferrer nofollow"></a>
 <figcaption>TSLA-USDC contract, Source: Hyperliquid
 </figcaption>
</figure>
The TSLA-USDC pair was <a href="https://app.hyperliquid.xyz/trade/xyz:TSLA" rel="noopener noreferrer nofollow">trading</a> at $351.98 at the time of writing, down 2.28% in the last 24 hours.
<a href="https://www.thestreet.com/crypto/technology/indias-starlink-delay-is-a-crime-against-its-people-musk-says" rel="noopener noreferrer nofollow">Related: Elon Musk takes direct aim at Indian billionaire Mukesh Ambani</a>

Tesla investors hardly impressed with Elon Musk's 'flying car'

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