According to the Gate stock token trading page, as of May 12, the Tesla stock token TSLAX is quoted at $439.7, marking a 24-hour increase of 3.5%. This continues the strong upward momentum seen recently. Over the past month, TSLAX has steadily climbed from $395 on April 16 to around $439.7, representing a cumulative gain of approximately 11.3%. This performance highlights the crypto market’s efficient price discovery mechanism and sustained optimism regarding Tesla’s fundamentals.
TSLAX is a tokenized version of Tesla stock, anchored 1:1 to fully-backed physical shares held by a regulated third-party custodian. Each token is supported by actual Tesla shares in custody, ensuring the token price closely tracks the underlying US stock. As one of the most liquid stock tokens on the Gate platform, TSLAX’s total asset value has reached about $78 million, with over 20,000 holders. An active trading community is fueling further expansion in the stock token market.
Tesla Q1 Earnings: Surpassing Expectations, Fundamentals Continue to Improve
The recent strength of TSLAX is primarily driven by Tesla’s Q1 2026 earnings report released on April 22. The data shows Tesla achieved total revenue of $22.387 billion for the quarter, up 16% year-over-year—the highest growth rate since Q2 2023. Adjusted earnings per share came in at $0.41, well above the market consensus of $0.34. This marks the second consecutive quarter in which Tesla has beaten analyst expectations.
Gross margin figures also delivered positive signals. Excluding environmental regulatory credits, the EV gross margin was 19.2%, higher than any quarter in 2025. The company attributes this to rising average selling prices and lower per-vehicle material costs. Free cash flow reached $1.444 billion, up 117% year-over-year, while capital expenditures were about 40% below analyst forecasts, demonstrating significant improvements in capital efficiency.
On the smart transformation front, Tesla’s FSD (Full Self-Driving) subscriptions hit 1.28 million in Q1, up 51% year-over-year and about 16% quarter-over-quarter, reflecting growing willingness among users to pay for autonomous driving features. The China market also performed strongly, with the Shanghai Gigafactory delivering 213,000 vehicles in Q1, up 23.5% year-over-year, further cementing Tesla’s leadership in the world’s largest new energy vehicle market.
Recent Catalysts: Autonomous Driving Advances + Musk’s Visit to China
Since May, TSLAX’s upward momentum has accelerated. On May 8, Tesla’s US stock traded actively, closing at $428.35—up $16.56 in a single day, a 4.02% gain. On the same day, the company confirmed its autonomous ride-hailing service is undergoing operational testing in Austin, Texas, with plans to expand to around 10 US states by the end of 2026. This announcement boosted investor confidence.
Beyond autonomous driving, Tesla’s developments in AI chips are also drawing attention. CEO Elon Musk previously announced that the next-generation autonomous driving AI5 chip has reached a key engineering milestone and is nearing mass production. There are plans to collaborate with SpaceX to build two advanced chip factories in Austin, Texas. The market sees this as a sign of Tesla’s continued technological leadership in AI and autonomous driving, directly supporting the stock price.
Additionally, news that Musk will accompany President Trump on a visit to China from May 13 to 15 further fueled TSLAX’s rally. Tesla shares rose 2.5% to $439.30 on the news. A senior equity analyst at Morningstar noted that the market responded positively to Musk’s China visit with Trump, suggesting Tesla could ultimately secure favorable agreements from both sides.
Of course, on May 11, JPMorgan initiated coverage of Tesla stock with an "Underweight" rating and a price target of $145. This rating is significantly below the current TSLAX price, highlighting widening expectations between buyers and sellers.
Macro Environment: Fed Holds Rates Steady, Crypto Market Remains Resilient
On the macro front, the May 2026 Federal Reserve FOMC meeting announced the benchmark interest rate would remain unchanged at 3.50%–3.75%. This marks the third consecutive pause following January and March, with four dissenting votes—the highest since 1992.
The continued delay in rate cut expectations is putting some pressure on risk assets. Data shows the market has postponed Fed rate cut expectations to late 2026 or even 2027. The process of inflation easing remains uncertain, with core PCE rising 3.2% year-over-year in March. Service prices and housing costs remain sticky, and energy prices are affected by geopolitical factors, making the timing of rate cuts more challenging.
Despite this, in Gate’s stock token section—offering 24/7 uninterrupted trading—capital has not retreated due to macro tightening. On the contrary, stock tokens like TSLAX, which combine the fundamental value of traditional equity with the flexibility of crypto assets, are attracting increased cross-market capital attention.
Gate Stock Tokens’ Core Value: 24/7 Trading + T+0 Settlement
Unlike traditional US stock trading, which is limited by trading hours and T+1 settlement, Gate stock tokens offer true 24/7 continuous trading. When Tesla’s US stock is closed for holidays or after-hours positive news breaks, Gate users can immediately adjust their TSLAX positions rather than waiting for the next market open.
Gate pioneered the "spot + perpetual contract" dual-market model for the same stock token asset. TSLAX perpetual contracts support up to 20x leverage for both long and short strategies. TSLAX Highlights:
- 24/7 trading, unrestricted by US stock market hours
- T+0 instant settlement, USDT credited immediately after selling TSLAX
- Direct USDT entry, no need for currency exchange or overseas bank accounts, maximizing capital efficiency
- Low participation threshold, buy fractional TSLAX shares starting at just $10
- Dual spot + contract markets, flexible allocation strategies
- 1:1 physical stock backing, price tightly linked to Tesla’s actual shares
By early 2026, cumulative trading volume in Gate’s stock token section had surpassed $14 billion, with a monthly market share as high as 89.1%. TSLAX’s total asset value is about $78 million, with a steadily growing holder base and notable liquidity advantages.
How to Capture TSLAX Trading Opportunities?
If you’re optimistic about Tesla’s long-term prospects and wish to participate at a lower cost, consider these steps:
- Register and log in to your Gate account, completing the required identity verification
- Deposit USDT into your spot account to prepare funds for TSLAX trading
- Access the "Stock Token" section via Gate app or web, and search for TSLAX
- Choose spot or perpetual contract trading, enter the quantity and price, and complete your transaction
For investors preferring long-term allocation, TSLAX spot is an ideal holding tool. For traders seeking to profit from volatility, TSLAX perpetual contracts offer flexible long/short strategies, unrestricted by US stock trading hours, allowing you to capture market moves at any time.
Regulatory frameworks for stock tokens are also becoming clearer. In January 2026, the US SEC issued new guidance, formally including tokenized securities under regulatory oversight, providing a crucial compliance foundation for the industry.
Conclusion
As of May 12, Tesla stock token TSLAX on the Gate platform is quoted at $439.7, with a 24-hour gain of 3.5%. TSLAX is highly correlated with its underlying asset, Tesla’s actual shares, and also offers the flexibility and liquidity advantages of crypto assets. The recent strong performance of TSLAX has been driven by several positive factors, including Tesla’s Q1 earnings beat, key progress on the AI5 chip, ongoing Robotaxi operations, and Musk’s China visit with Trump.
Gate stock tokens ensure price credibility through 1:1 physical backing, break traditional US stock time barriers with 24/7 trading and instant settlement, and lower cross-border participation costs with USDT entry and low fractional share thresholds. For global users looking to allocate Tesla in the crypto world, TSLAX provides a compliant, flexible, and efficient investment bridge. As Tesla’s smart and autonomous driving business continues to advance, TSLAX, as a core asset in Gate’s stock token section, is well worth keeping an eye on.
