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Tesla shares drop about 13.5% after weak profit outlook and high AI spending
The selloff follows Tesla’s second-quarter showing of 31 cents per share versus 51 cents expected, as investors also weighed slow progress on Robotaxi and Optimus.
Tesla shares fell about 13.5% on Thursday, one of the biggest single-day drops in the company’s history, after Tesla disclosed weaker profitability and spending plans tied to AI and robotics, according to Guardian Business.
Across the broader market, US stocks dropped the same day, with the Nasdaq down more than 2% after a technology earnings wave revived concerns about heavy AI spending, while higher oil prices raised inflation worries and pushed bond yields up.
The Guardian Business article said Tesla has lost about 27% of its market value over the past year as large capital expenditures and weaker-than-expected profits weighed on investor sentiment.
Tesla’s latest losses came the day after its second-quarter results showed the company earned 31 cents per share versus Wall Street analysts’ 51 cents estimate, and while revenue beat expectations, investors responded negatively; the article also highlighted investor questions about the rollout timeline for Robotaxi and the Optimus humanoid robot, which remains unavailable to consumers and is only offered on a limited basis in the US.
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