Did Elon Musk Tank Tesla Stock Despite Several Positives In Q2? One Analyst Thinks So
Portfolio Pulse from Shanthi Rexaline
Tesla's stock fell nearly 10% despite a strong quarterly report, with Future Fund's Gary Black suggesting that CEO Elon Musk's focus on autonomy over existing successful businesses may have contributed to the drop. Black argued that if Musk had highlighted the company's dominance in the EV market and its tripling energy profits, the stock might have performed better. He also criticized Musk's hinting at potential future price cuts, suggesting it could discourage immediate purchases.

July 21, 2023 | 9:07 am
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Tesla's stock fell nearly 10% despite a strong quarterly report. Analyst Gary Black suggested that CEO Elon Musk's focus on autonomy and hints at future price cuts may have deterred investors.
The stock drop is directly linked to the company's Q2 report and CEO Elon Musk's comments. Musk's focus on autonomy, which is not yet flawless, and hints at future price cuts may have created uncertainty among investors, leading to the stock's decline.
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IMPORTANCE 80
RELEVANCE 100