Tesla Stock Plummets After Q2 Earnings Call Skips Financials, Focuses on AI and Robotics

Tesla shares (TSLA) experienced a significant drop of over 8% on Thursday following its second-quarter earnings call. Investors and analysts were left questioning the company’s direction as CEO Elon Musk and other executives largely sidestepped discussions about current financial performance, instead focusing almost entirely on Tesla’s long-term vision as an AI and robotics powerhouse.

Despite a reported freefall in sales and three consecutive quarters of shrinking profits, the hour-long call offered minimal detail on these pressing financial issues. Instead, the discourse centered on speculative ventures such as robotaxis, the ‘Full Self Driving’ software, and the Optimus humanoid robot, which are still largely unrealized as viable consumer products.

Musk acknowledged a ‘weird transition period’ and ‘a few rough quarters’ ahead, attributing this to the impending loss of a crucial $7,500 US EV tax credit and the diminishing market for regulatory credit sales. However, analysts noted a stark lack of detail regarding core automotive business challenges, including cratering demand for current models and the mysterious new lower-priced vehicle. This communication strategy, described as ‘less than stellar’ by some Wall Street figures, appears to be losing its appeal, with critics labeling the company as overvalued and banking on hype rather than tangible performance.

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