- Tesla sinks after Q2 earnings miss; investors question margins, weak deliveries, and Musk’s vague robotaxi timeline. Will the rebound hold?
Tesla (NASDAQ: TSLA) stock nosedived 14% on Wednesday, closing at $332.56, its worst single-day performance in over a year, after Elon Musk’s Q2 earnings call failed to reassure investors.
Tesla missed revenue expectations and offered a muddled message on demand trends, sending shockwaves across tech stocks and dragging the Nasdaq 100 into the red.
Elon Musk’s Robotaxi Promise: Market Shrugs
While Musk confirmed an August 8 robotaxi unveiling, Wall Street seemed more focused on Tesla’s current cracks than future dreams. Analysts called the call “vague,” noting there was no updated timeline for mass production or regulatory approvals.
You can’t build a bullish case on hype when the core business is wobbling.”
A Barclays note summed it up bluntly
Tesla Share Price Technical Outlook
- Current price: $332.56
- Resistance levels: $340.80, $359.60
- Support zones: $312.50, then $296.20
Wednesday’s massive red candle wiped out nearly a month’s worth of gains. If $312.50 fails to hold, Tesla could revisit the June lows near $296. A rebound above $340 would help stabilize the short-term structure, but momentum clearly favors sellers for now.
Will TSLA Recover? Investor Sentiment Turns Cautious
Investor sentiment has turned sharply bearish. The Tesla Fear & Greed barometer flipped to “Extreme Fear,” and institutional flow trackers are showing net outflows from tech ETFs with heavy TSLA exposure. Retail traders, who had rushed in on the AI hype, appear to be backing off.
Conclusion
This isn’t just another earnings miss, it’s a gut check for long-term Tesla bulls.
The company still leads the EV race in tech and brand power, but with competitors closing the gap and the growth story fading, Tesla must now prove it can evolve from disruptor to durable cash machine.
For now, traders should brace for more volatility. Until the August 8 robotaxi event clears up execution risks, Tesla stock may remain stuck in defensive mode.