July has been a horrible month for the stock prices of Elon Musk's two publicly traded companies: Tesla (Nasdaq: TSLA) and SpaceX (Nasdaq: SPCX).
Tesla, Inc. reported Q2 FY2026 earnings that triggered a 14.7% stock drop, reflecting investor skepticism over its strategic pivot. TSLA is shifting from a carmaker to an AI conglomerate, with 2026 capex set to exceed $25 billion and negative free cash flow emerging. Automotive revenues rose 8% but were driven by price cuts and incentives, compressing gross margins to 16.3% and signaling core business pressure.
Endorsements from the Insurance Institute for Highway Safety (IIHS)/Highway Loss Data Institute (HLDI) are among the most highly prized in the car industry.
TSLA's Q2 miss, margin pressure and heavy spending triggered a 14% slide, but stabilizing EV demand, balance sheet strength and FSD gains support a hold.
At $319.69, Tesla (NASDAQ:TSLA | TSLA Price Prediction) stock deserves a fresh view because a disastrous
Tesla (NASDAQ: TSLA | TSLA Price Prediction) and General Motors (NYSE: GM) reported Q2 2026 results within a day of each other.
Tesla (NASDAQ:TSLA | TSLA Price Prediction) delivered a split-decision quarter: a big revenue beat wrapped around an ugly EPS miss.
Though it left Elon Musk and other Tesla (NASDAQ: TSLA) stockholders poorer, TSLA shares' latest plunge proved highly beneficial for one of the most prominent bears and contrarians in finance: the legendary ‘Big Short' trader Michael Burry.
Six weeks ago, Elon Musk was the richest person who had ever lived. On June 16, three days after SpaceX (NASDAQ:SPCX | SPCX Price Prediction) closed its June 12, 2026 initial public offering, SpaceX's market capitalization hit an all-time high of $2.64 trillion, and Musk's paper wealth peaked near $1.45 trillion.
While Elon Musk's two mega-cap public companies have not been doing particularly well in general in the 2026 stock market, the previous week of trading proved especially damaging, and, combined, SpaceX (NASDAQ: SPCX) and Tesla (NASDAQ: TSLA) wiped over $360 billion from their valuations.
Tesla says production of its Optimus robot will begin "soon" at its Fremont factory. Musk says intelligence, human-like hands, and mass production are the biggest hurdles.
It's difficult to call any stretch a calm, quiet summer week, but this one would seemingly fit the bill. Earnings from Alphabet (GOOGL), Tesla (TSLA), and IBM (IBM) are the standouts, along with a slew of cyclicals reporting Q2 results.