Tesla Crashes 7.5% — Deliveries Beat but Capex Expansion Spooks Market?
Tesla plunged 7.5% for its worst single-day performance in 11 months, despite Q2 deliveries significantly beating consensus estimates, as shares faced classic "buy the news, sell the fact" selling. The delivery beat failed to ignite bulls, triggering profit-taking instead, with market focus shifting from delivery volumes to forward demand growth and margin trajectory. Does aggressive capex expansion represent a deteriorating narrative for Tesla — or is this a dip-buying opportunity, with SpaceX as the catalyst?