Tesla (TSLA) Stock Down 30% in 2026 After Q2 Earnings Miss – Time to Buy?
TLDR
- Tesla stock fell 18% last week after Q2 operating profit came in at $400 million, far below Wall Street’s $1.7 billion estimate
- EPS of $0.33 missed the $0.50 consensus; revenue of $28.24 billion beat expectations of $26.42 billion
- Stock is down ~30% year-to-date and has now turned negative over the past 12 months
- Tesla has stopped producing the Model S and X to convert that capacity for robot production
- Analysts hold a consensus “Hold” rating with an average price target of $404.95
Tesla stock was trading at $317.50 in premarket Monday, up 1.4%, lifted by a broader market rally after tensions in Iran eased. Crude oil dropped nearly 5% to around $82 a barrel, giving stocks a boost across the board.
But the bigger story is what happened last week. Tesla dropped 18%, including a near-15% single-day fall on Thursday following its Q2 earnings report. Coming into Monday, the stock sat about 30% lower for the year and had just flipped negative over the past 12 months — the first time that’s happened in a while.
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