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Tesla (TSLA) crashes 12%, sheds $140B as Elon Musk’s ‘just trust me’ doesn’t hold anymore
Tesla stock is down more than 12% today, wiping out over $140 billion in market value, after the automaker’s Q2 2026 earnings missed on profit and free cash flow turned negative.
AI Summary
Tesla's stock price has plummeted by over 12% in a single day, resulting in a loss of more than $140 billion in market value. This significant decline is attributed to the company's Q2 2026 earnings, which failed to meet expectations in terms of profit. Furthermore, Tesla's free cash flow turned negative, indicating a strain on the company's financial resources. During the earnings call, Elon Musk reiterated previous promises regarding the development of robotaxis and the Optimus project, which may have contributed to investor skepticism and the subsequent market reaction.
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