Tesla Stock Is Down. It Might Be the Market, It Might Be Munich.

Tesla stock slumped on Wednesday, and it might have been the market that caused the weakness. Or it might have been Munich.

Wall Street currently expects third-quarter deliveries will come in at about 470,000 cars, with operating profit margins of about 10%. Tesla sold about 466,000 vehicles in the second quarter and reported operating profit margins of about 9.6%, compared with almost 15% in the second quarter of 2022. Autonomous driving isn’t the only thing Tesla is planning for growth. Rosner said in his report that Tesla is optimistic about Cybertruck, which is due to be delivered in the fourth quarter, and the updated Model 3 sedan, believing new features will boost sales.

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