Tesla stock dropped 8% due to delayed robotaxi unveiling and revenue decline

From Nasdaq, Inc.: 2024-07-11 18:51:00

After a surge in optimism from strong delivery figures, Tesla’s stock plummeted over 8% due to news of a postponed robotaxi unveiling. The delay, reported by Bloomberg, could last about two months and followed CEO Elon Musk’s previous Aug. 8 deadline. Investors are now focused on upcoming second-quarter earnings on July 23, where experts predict a revenue decline and decreased profitability.

With analysts anticipating a 2% revenue decrease to $24 billion and a significant drop in profitability to $0.61 per share, investors are questioning Tesla’s future performance. The Motley Fool’s Stock Advisor team has identified 10 superior stocks for investment, highlighting potential over Tesla. Historical returns on previous recommendations showcase promising outcomes for investors who follow their advice.

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