Tesla reported a second straight year-over-year decline in vehicle deliveries for the second quarter. Tesla shares are down 26% so far this year as of Tuesday's close, the worst performance among tech's megacaps.
The quarterly vehicle delivery numbers, one of the key barometers of the company's success, come the same week as Musk's staredown intensified with Trump, a one-time close ally. Musk, who spent more than $200 million last year to help elect Trump, loudly disagreed with Trump's spending bill which passed the Senate on Tuesday.
Xpeng reported an eighth-straight month of more than 30,000 monthly vehicle deliveries amid a fierce price war in China. Xpeng's U.S.-listed rivals, which target a more premium segment of China's car market, saw more modest sales momentum.
Tesla TSLA has been a polarizing stock over the last decade, delivering massive gains for investors as we increasingly shift toward EVs.
Tesla shares dropped 7% from Friday's closing price of $323.63 to the $300.71 close on Tuesday ahead of the company's second-quarter deliveries report. Wall Street analysts are expecting Tesla to report deliveries of around 387,000 — a 13% decline compared to deliveries of nearly 444,000 a year ago, according to a consensus compiled by FactSet.
‘Magnificent Seven' tech stocks weighed on the S&P 500 and Nasdaq; Elon Musk sparred with President Trump over the tax-and-spending bill.
Tesla (TSLA) stock slides as CEO Elon Musk and President Trump are yet again arguing over social media. Musk criticized Trump's big, beautiful bill, which moves to the House after narrowly passing through the Senate, saying the mega bill, which is expected to add trillions to the national debt, is "insane.
Gene Munster, Deepwater Asset Management, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss each expert's thoughts on the saga between Elon Musk and Donald Trump.
Shares of Tesla are down in premarket trading today after President Donald Trump and the EV maker's CEO, Elon Musk, traded barbs on their social media platforms, reigniting a public feud that had boiled over early last month only to die down in more recent weeks.
New car registrations in France slid 6.7% in June from a year earlier to 169,504 vehicles, data from French car body PFA showed on Tuesday.
In trading on Tuesday, shares of Tesla crossed below their 200 day moving average of $313.28, changing hands as low as $293.21 per share. Tesla Inc shares are currently trading down about 5.2% on the day.
U.S. equities were mixed at midday as the market weighed the impact of U.S. tax and spending policies. The S&P 500 and Nasdaq fell from their record highs, while the Dow Jones Industrial Average was up.