Tesla Inc. (NASDAQ:TSLA) is down by over 6% in pre-market trading following the company's Q2 earnings call with investors.
Check out the current price of TSLA stock here.
Tesla shares fell after the company reported a revenue of $22.5 billion in Q2, a 12% YoY decline. The decline also follows dwindling sales figures in multiple markets.
CEO Elon Musk also shared that Tesla could be in for a "rough few quarters" as the Trump administration ends EV incentives and tariff pressures cause uncertainty for the company.
Tesla's announcement of an affordable trim of the Model Y has also disappointed experts, who maintain that the move could lead to cannibalization within the company's lineup.
EV incentives getting axed could also lead to shortages in Tesla's U.S. inventory, as the company's CFO, Vaibhav Taneja, urged customers to buy more vehicles now or face delays during the earnings call.
Tesla offers Satisfactory Momentum and Quality, while scoring well on the Growth metric, but offering poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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