Tesla Plunges 13.4% on Q2 Miss, Alphabet Slides 7% as Tech Rout Deepens
TSLA is trading near its 52-week low of $297.82 (8.2% above the low).
Summary
Tesla shares are down 13.4% intraday after Q2 earnings missed badly — EPS of $0.33 vs. $0.51 expected — with margins squeezed and capex surging. This follows the initial 6% drop reported earlier, but the sell-off has intensified sharply. Alphabet is also tumbling 7% despite beating estimates, after raising its capex forecast, adding to the tech rout. The Nasdaq is down 2.2%, with additional pressure from a crude oil spike above $90/bbl on Red Sea tensions. The combined weight of Tesla's miss and Alphabet's capex hike is driving a broad risk-off move in tech.
At the time of this announcement, TSLA was trading at $322.21 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $297.82 to $498.83. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.