Tesla Stock Erases $214 Billion in a Single Day — Here’s What Happened This Month – Tesla (NASDAQ:TSLA)
Tesla Inc. (NASDAQ:TSLA) is in the spotlight Friday after a busy July that included record delivery figures, a closely watched earnings report and a sharp post-earnings selloff.
Tesla Q2 Delivers 25% YoY Surge
Tesla pre-released its second-quarter production and delivery figures on July 2, reporting 451,758 vehicles produced and 480,126 delivered — up 25% year-over-year and well above the roughly 406,000 Wall Street had expected. Model 3/Y deliveries totaled 467,762, with other models contributing an additional 12,364. The company also deployed 13.5 GWh of energy storage products during the quarter.
Tesla Tops $100B TTM Revenue, Stock Sinks
Shares fell sharply following the report, extending to a 14.5% single-day decline on July 23 — Tesla’s largest single-day drop in over a year, erasing roughly $214.5 billion in market value. The selloff followed the worse-than-expected adjusted EPS result, along with company commentary on high capital expenditure growth, supply-chain bottlenecks and difficulties scaling up Optimus robot production.
The AI and Robotics Pivot
Analyst Consensus & Recent Actions
The stock carries a Buy rating with an average price forecast of $413.49. Recent analyst moves include:
- UBS: Neutral (Lowers Target to $385.00) (July 23)
- JP Morgan: Neutral (Lowers Target to $445.00) (July 23)
- Morgan Stanley: Equal-Weight (Lowers Target to $400.00) (July 23)
Tesla Shares Edge Higher
TSLA Price Action: At the time of publication, Tesla shares are trading 0.43% higher at $321.05, according to data from Benzinga Pro.
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