Tesla Stock Is Plunging Over 7% In Wednesday's Pre-Market After Q2 Earnings: What's Going On
- by Benzinga.com
- Jul 24, 2024
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See Also: How To Buy Tesla Stock
The after-hours sell-off in the shares intensified after Musk’s commentary on the earnings call. Summarizing his comments from the first 10 minutes or so, Deepwater Asset Management’s Gene Munster said they implied that “keep your eyes on the prize which is FSD, autonomy, fleets and Optimus.” Tesla investors are used to waiting, the tech analyst said, adding that “The reason why the stock is drifting lower in after-hours is because the dip in margins in June elevated investors’ desire to hear more details on 2025 product announcements.”
With Musk confirming the robotaxi unveil event for Oct. 10, Munster said investors will get the details they’re looking for in three months.
In premarket trading, the stock fell 7.35% to $228.27, according to Benzinga Pro data. The stock is down 0.85% for the year-to-date period.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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