Stocks to Watch Thursday, Oct. 22: Tesla, QuantumScape, SpaceX, Skydance, AT&T

By Tech & Money Press · Pre-market watchlist for Thursday, October 22, 2026

Market Setup

Stocks rose on Wednesday. SPY closed at $773.09 (+0.5%) and QQQ gained 1.1% to $725.20. The mood turned after the bell, when Tesla’s earnings report pulled growth names lower. QQQ traded near $719.54 (-0.8%) and SPY near $769.46 (-0.5%) in the after-hours session.

One company tied most of today’s list together: SpaceX. Its first profitable quarter as a public company lifted the stock, fueled talk of a Tesla merger, sparked a Skydance rally and weighed on AT&T. QuantumScape rounds out the list with an after-hours jump on earnings. Here are the levels we are watching.

1. Tesla (TSLA) – Earnings beat, but the stock slips after hours

Close: $386.47 (+3.4%) · Day range: $380.51–$388.84 · Volume: 48.9M · After hours: ~$373.65 (-3.3%), range $372.00–$394.98

Tesla posted Q3 revenue of $28.05 billion, flat from a year ago, and adjusted EPS of $0.48, ahead of the $0.45 estimate. Gross margin improved to 19.6% from 18.0% a year ago. But operating income fell 56%, R&D spending jumped 69%, and free cash flow dropped to $1.53 billion from $3.99 billion. On the call, Tesla cut its full-year capex plan to about $20 billion and said robotaxi service is targeted to run 24/7 by year-end.

Our Take: The stock traded as high as $394.98 after hours, then sold off to about $373.65. That wiped out the whole day’s gain and put TSLA right on Tuesday’s close at $373.71. That is the first level to watch. If it holds, buyers can try to work back toward $388.84 (Wednesday’s high). If it breaks, the next support is $363.64 (Oct. 20 low), and below that $349.33 (Oct. 16 low). A spike-and-fade like this often means sellers are in control early, so we would let the first 15–30 minutes show which way it wants to go.

2. QuantumScape (QS) – New battery line for AI data centers

Close: $3.98 (unchanged) · Day range: $3.98–$4.09 · Volume: 19.0M · After hours: ~$4.39 (+10.3%), high $4.74

QuantumScape reported a Q3 loss of $0.14 per share, three cents better than expected. It also announced plans for a 100-megawatt-hour battery cell line aimed at AI data centers, aerospace and defense customers. Germany’s Muehlbauer Group is building the equipment, and cell production is scheduled to start in 2028.

Our Take: QS closed Wednesday just above its 52-week low of $3.80, so the after-hours pop starts from a beaten-down chart. The after-hours high of $4.74 matches the Oct. 9 high, so that is the first resistance. A clean push through it opens the late-September area near $5.07. On a pullback, we want to see $4.29 (Oct. 15 high) hold. If it slides back under $4.09, most of the gap is gone. Keep in mind that production is still about two years away, so news-driven gaps like this can fade fast.

3. SpaceX (SPCX) – First profit as a public company

Close: $159.31 (+7.8%) · Day range: $156.93–$166.18 · Volume: 220.8M (about 2x its 10-day average) · After hours: ~$156.70 (-1.6%)

SpaceX reported Q3 revenue of $14.6 billion, up 161% from a year ago and well above the roughly $12.9 billion analysts expected. It earned $4.4 billion, its first quarterly profit since its June IPO, though about $1 billion of other income and a tax benefit helped. Musk also confirmed that SpaceX and Tesla have each set up committees to study a possible merger. He said a deal is not certain.

Our Take: The stock opened strong, hit $166.18 and then faded most of the day. After hours it slipped below Wednesday’s low of $156.93 as Tesla fell. That level is now the key. Reclaiming it would put the $166–$167 highs back in play. Staying under it opens a return toward $148.66 (Oct. 20 high, where Wednesday’s gap started). A gap that fades on huge volume is a warning sign, so we would want to see buyers defend $156.93 before trusting a bounce.

4. Skydance (SKYD) – SpaceX investment talk sparks a rebound

Close: $7.87 (+10.8%) · Day range: $6.90–$7.91 · Volume: 49.6M · After hours: ~$7.82

Media veteran John Malone said he sees a possible deal between Skydance and SpaceX, suggesting SpaceX could invest around $8 billion to $10 billion. He called it a “big prediction.” Skydance carries about $80 billion of debt after closing its Warner Bros. Discovery deal, so outside money would ease the pressure. The stock had dropped hard on Oct. 14 after the company handed out warrants to shareholders.

Our Take: SKYD closed near the top of its range, right under $7.98 (Oct. 14 high). That is the level to beat. Above it, the next targets are $8.64 (Oct. 7 low, inside the Oct. 14 gap) and $9.28 (NYSE debut price). On the downside, $7.23 (Oct. 20 high) should act as support, then $6.90. This move is built on a prediction, not a signed deal, so it can reverse quickly if nothing new comes out.

5. AT&T (T) – Beat and raise, but Starlink worries win

Close: $21.91 (-6.4%) · Day range: $21.79–$22.62 · Volume: 84.5M (about 1.6x its 10-day average) · After hours: ~$22.00

AT&T beat Q3 estimates with revenue of $32.3 billion and adjusted EPS of $0.65. It raised its 2026 profit outlook to about $2.40 per share. But postpaid phone additions slowed to 379,000 from 432,000 last quarter and missed estimates. Investors also worried about SpaceX, which says its Starlink Mobile service passed 22 million monthly users and is buying spectrum to compete as a U.S. mobile carrier. AT&T was the worst S&P 500 performer of the day.

Our Take: T closed just above its day low of $21.79, which is the first support. If that breaks, there isn’t much on the daily chart until the $21 area. On a bounce, $22.62 (Wednesday’s high) is the first test, and $23.36 (where the gap started) is the bigger one. For a slow-moving name like AT&T, a 6% drop on heavy volume is a big deal. We would not try to catch the bottom until it shows it can hold $21.79.

Bottom Line

Thursday opens with Tesla’s after-hours drop weighing on growth stocks. SpaceX news is moving several names at once. Watch $373.71 on Tesla and $156.93 on SpaceX early. If both hold, the rest of the list has a better chance to follow through. As always, pre-market levels can change quickly, so wait for confirmation after the open.

Disclaimer: This article is for informational and educational purposes only and is not financial advice. Tech & Money Press is not a registered investment advisor. Trading stocks involves risk, including the loss of your investment. Do your own research and consult a licensed professional before making any investment decisions.

Sources: Price data from Webull (as of 8:00 p.m. ET, Oct. 21, 2026). Company news via Electrek, Investing.com, TipRanks, Yahoo Finance, The Motley Fool, Yahoo Finance, 24/7 Wall St., Invezz, MarketScreener.