TSLA is trading 3.2% down today at $406.43 as investors lock in gains following a sharp multi-day rally and a strong Q2 delivery beat that had already driven market expectations to high levels.
- The stock is facing pressure from a rich valuation and intensifying competition in the global EV market.
- Despite the daily decline, the company continues to benefit from growing optimism surrounding its AI and autonomy initiatives, alongside the expansion of its robotaxi services.