Tesla Stock Is Plunging Over 7% In Wednesday's Pre-Market After Q2 Earnings: What's Going On
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares fell over 7% in premarket trading after reporting Q2 earnings that missed expectations on key metrics like auto gross margin and free cash flow. Despite a modest revenue increase, concerns were raised due to reliance on regulatory credits and lower 2024 volume growth projections.
July 24, 2024 | 10:04 am
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Tesla's Q2 earnings report led to a 7% drop in premarket trading. Key metrics like auto gross margin and free cash flow missed estimates, despite a modest revenue increase. Concerns over reliance on regulatory credits and lower 2024 volume growth projections contributed to the decline.
Tesla's Q2 earnings report showed a miss on key metrics like auto gross margin and free cash flow, despite a modest revenue increase. The reliance on regulatory credits and lower 2024 volume growth projections negatively impacted investor sentiment, leading to a 7% drop in premarket trading.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100