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Tesla shares drop 8% despite beating Q2 delivery expectations by over 70,000 vehicles.

Market News
02 Jul 2026
Forbes
View Source
Bearish
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Tesla's stock fell about 8% after the company reported delivering 480,126 vehicles in Q2, surpassing analyst expectations of 406,000 and showing strong sales recovery in Europe. Despite this, investor confidence remains shaky, highlighted by Michael Burry's recent short position against Tesla. The company also discontinued its Model S and Model X to focus on Model 3, Model Y, and Cybertruck. The stock decline reflects ongoing market caution amid positive sales data and recent controversies, including a fatal crash involving a Tesla semi truck.

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