"Still, since hitting its all-time high on Dec. 17, 2024, the stock has fallen 7.54%. When the company last reported earnings in July, it announced that in Q2, revenues were down 12% year over year (YoY), EPS was down 23% YoY, operating income was down 42% YoY and vehicle deliveries fell to 384,122 - down 14% YoY. Since launching in India in mid-July, Tesla has only received a paltry 600 orders."
"In fact, Tesla stock has a ton of table-pounding bulls in addition to massive bears. While not everyone is the biggest fan of Elon Musk, I do think it's a mistake to discount his ability to keep running with the ball into the endzone with disruptive innovations that, while costly in the near term, could prove revolutionary over the longer term."
Shares of Tesla gained 4.07% over the past five trading sessions after a prior 4.84% decline, and a summer rally has produced a 17.02% year-to-date gain. The stock remains 7.54% below its Dec. 17, 2024 all-time high. Q2 results showed revenue down 12% YoY, EPS down 23% YoY, operating income down 42% YoY, and vehicle deliveries falling 14% to 384,122. The India launch in mid-July yielded only about 600 orders. Investor views are polarized, with mounting EV competition and a Jeff Bezos-backed startup clouding the outlook despite continued faith in Elon Musk's long-term disruptive potential.
Read at 24/7 Wall St.
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