TSLA.BA is trading about 8% down today at $41,180, extending a sharp decline from $44,540 on July 1 amid market reaction to better-than-expected Q2 deliveries, which analysts attribute to margin concerns from aggressive discounting and profit-taking after a recent rally.
- The stock decline follows the release of Tesla's Q2 delivery numbers, which, despite beating analyst estimates, raised investor fears about automotive gross margins.
- Concerns about slowing EV demand, persistent brand damage, and increasing competition also contributed to the negative sentiment.
- The price action also reflects profit-taking by investors following a strong run-up in the stock leading up to the delivery report.