Tesla drops 8% despite delivery beat
Tesla’s stock fell approximately 8% despite delivering over 480,000 vehicles in the second quarter, exceeding expectations and marking an increase from the previous quarter. The company announced the discontinuation of the Model S and Model X, focusing on the Model 3, Model Y, and Cybertruck, though only 12,364 Cybertrucks were delivered. Investor skepticism persists, with prominent investor Michael Burry taking a short position, and concerns about European sales decline and recent safety incidents continue to influence market reactions.
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