Tesla Chief Executive Elon Musk was active on his social media platform over the weekend, posting several statements about the EV giant and his how his focus is now 100% back on the company before this week's second-quarter earnings release. TSLA shares moved lower Monday and but gained ground during Tuesday's stock market.
Musk, responding to a post on X, Sunday said he is "back to working 7 days a week and sleeping in the office if my little kids are away." This comment came a day after Musk posted to X that he "resisted AI for too long" and that he had been "living in denial" but that "now it is game on." Musk accompanied the statement by tagging xAI, his artificial intelligence company, Tesla and SpaceX.
The Tesla head also commented on the company's full self-driving, or FSD, software and the limited robotaxi Model Y ride-hailing service.
"Your Tesla self-driving capability will see a step change improvement as we integrate upgrades for the Austin robotaxi build into the general production release," Musk wrote Sunday. "We need to validate that improvements for Austin don't cause regressions elsewhere. For Europe and China we are awaiting regulatory approval."
Musk added that Model Y robotaxi's could be deployed in California's Bay Area "as soon as the regulators approve (they are being quite reasonable)."
Best IBD 50 Stocks To Watch
In a separate post about Tesla, Musk sounded optimistic about the company's new diner, and supercharging site, in Los Angeles. This project dates back to 2018 when Musk claimed Tesla planned to open an "old school drive-in, roller skates and rock restaurant at one of the new Tesla Supercharger locations in Los Angeles."
The diner officially opened its doors to the public on Monday.
"If our retro-futuristic diner turns out well, which I think it will, Tesla will establish these in major cities around the world, as well as at Supercharger sites on long distance routes," Musk said early Monday.
"An island of good food, good vibes & entertainment, all while Supercharging!" Musk added.
Elon Musk: Tesla Earnings Upcooming
While Musk sounded an optimistic tone on social media over the weekend, Tesla reports second-quarter earnings and revenue after the stock market closes Wednesday. Analysts have been cutting quarterly profit expectations as company global vehicle sales sank more than 13% in Q2.
As of Monday, analyst consensus has Tesla EPS declining 25% to 39 cents with revenue falling around 13% to $22.19 billion, according to FactSet. However, the Sharp consensus, which tracks recent analyst revision trends for a potentially more accurate estimate, predicts sales coming in below $22 billion.
While expectations are relatively low for the top and bottom line numbers, investors and analysts will be arguably more interested in commentary on the earnings call from Musk about the company's plans for the still-unseen affordable vehicle and delivery guidance for the rest of the year.
Investors will also be looking for comments on President Donald Trump's Big Beautiful Bill Act, which cuts the Biden-era EV tax credit at the end of September and does away with the zero-emission vehicle, or ZEV, credits and the corporate average fuel economy (CAFE) fines. Tesla has been a major beneficiary of the ZEV credits program and CAFE, with automakers that can't meet emissions requirements purchasing credits from the EV giant.
However, for investors, all of that takes a back seat to Tesla's robotaxi efforts. Elon Musk will most likely sound a bullish tone on the earnings call about the Austin launch and self-driving.
Tesla Stock Performance
TSLA stock jumped 1.1% to 332.11 at the close of Tuesday's stock market. The stock advanced as high as 338 early Monday before reversing lower, edging down 0.35% to 328.49 at the close.
Tesla stock added 3.2% to 329.65 in Friday's stock market. Overall, Tesla jumped 5.15% last week, moving above the 50-day moving average and an aggressive entry on Friday. The looming earnings make purchases more risky than normal.
The stock rallied from late April to late May in part because Musk said he was backing away from politics and the Trump administration. Since then, Tesla stock has tumbled and rebounded according to news cycles — most of those generated by debate between Musk and Trump.
The stock initially soared after the robotaxi launch. Overall Tesla stock is down about 3% since the June 22 service release.
Tesla stock has a new base with a traditional 367.71 buy point, according to MarketSurge chart analysis.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
At Tuesday's stock market close, Tesla stock was up 39% since the April 22 Q1 conference call, lifted by robotaxi bets. Shares are down about 17% for the year, and 32% below their all-time high of 488.54.
Tesla stock has a 21-day average true range of 4.24%. The ATR metric, available on IBD's MarketSurge charting tool, gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily stock market action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.
Investors can keep tabs on the IBD Leaderboard watchlist, the IBD 50 list of top growth stocks and IBD SwingTrader along with the IBD Sector Leaders list.
Tesla stock has a 66 Composite Rating out of a best-possible 99. The Elon Musk stock also has an 86 Relative Strength Rating and a 58 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
YOU MAY ALSO LIKE:
Is Tesla Stock A Buy Or A Sell?
Get Full Access To IBD Stock Lists And Ratings
The Lithium Price Cycle Has Bottomed. What To Expect Next For These Stocks.
