Stock Market Today, July 23: Tesla Stock Crashes on Earnings Miss and Rising AI Spending
Today, July 23, 2026, analysts cut price targets as margin pressure and autonomous-driving caution weigh on the EV leader.
Overview
Tesla (NASDAQ:TSLA), the global electric-vehicle, battery storage, and autonomous driving platform, closed at $319.69, down 14.52%. Thursday's drop followed an earnings miss and heavier AI and robotics spending. Investors will continue watching margins with another focus on autonomous-driving guidance next.
Trading volume reached 114.2 million shares, coming in about 131% above its three-month average of 49.4 million shares.
Tesla IPO'd in 2010 and has grown 20,006% since going public.
The S&P 500 (SNPINDEX:^GSPC) fell 1.21% to 7,408.30, and the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 2.15% to 25,138. Among electric vehicle manufacturing peers, Rivian Automotive (NASDAQ:RIVN) closed at $16.46, down 4.19%, and Lucid Group (NASDAQ:LCID) closed at $6.45, down 4.87%, reflecting pressure across EV names.
Details
Tesla’s revenue soared in Q2, driven by a surge in EV unit volume. Deliveries jumped 25% year over year, and revenue gains came close to matching that. Yet profits dropped, and free cash flow turned negative as operating expenses and capital spending soared.
Source
Originally published at www.fool.com.