Tesla Inc. shares suffered their steepest single-day decline in twelve months on Thursday, erasing the positive sentiment generated by the company's second-quarter delivery report.
The stock fell 8.3% to close at $390, extending a sell-off that began in the previous session when shares dropped nearly 7% despite the initial release of the data.
The electric vehicle maker reported record second-quarter deliveries of 480,126 vehicles, representing a 25% increase year-over-year.
The electric vehicle maker reported record second-quarter deliveries of 480,126 vehicles, representing a 25% increase year-over-year.
While this marked the strongest quarterly performance in the company's history, the figure fell short of the aggressive growth targets anticipated by Wall Street analysts.
The results also confirmed that China's BYD has retook the global lead in electric vehicle sales, intensifying competitive pressure on Tesla's market share.
The sharp repricing reflects a growing disconnect between Tesla's operational execution and investor expectations for sustained high-growth momentum.