"Shares of Tesla Inc. (NASDAQ:TSLA) lost 4.84% over the past five trading sessions after gaining 0.82% the five prior. A rally that began in early summer has finally pushed the stock into the green on the year with a gain of 12.30%. Still, since hitting its all-time high on Dec. 17, 2024, the stock has fallen more than 11%. When the company reported in July, it announced that in Q2, revenues were down 12% year over year (YoY),"
"Since launching in India in mid-July, Tesla has only received a paltry 600 orders. Indeed, Tesla's stock has gone through vicious crashes before. And while the stock may not be ready to shift gears from reverse to forward, I do think that a worsening of its latest drawdown could prove a significant buying opportunity, given the chance its drivers could pay off at some point over the medium term."
Tesla's shares recently weakened, losing 4.84% over five sessions after prior gains and registering a 12.30% year-to-date rise despite being over 11% below the Dec. 17, 2024 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 generated roughly 600 orders since mid-July. Market sentiment is mixed amid fading Musk-related hype, mounting EV competition including a Jeff Bezos-backed entrant, and divergent Wall Street views that see both substantial risks and possible medium-term buying opportunities.
Read at 24/7 Wall St.
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