Tesla Drops 3% to $394 as Robotaxi Delays Overshadow Q2 Beat

Tesla shares fell more than 3% to $393.56 on July 13 amid broader market weakness and investor frustration over slow robotaxi and Optimus progress. The decline follows a week where the stock held near $408 after closing up 3.6%, buoyed by strong Q2 deliveries of 480,126 vehicles that beat estimates by a wide margin. Earlier in the period, Shanghai output surged 24.4% y/y while China market share edged higher to 5.3%, but these gains were offset by a New Jersey regulatory threat to camera-only autonomy and a cautious Market Perform initiation from Citizens citing stretched near-term AI expectations ahead of the July 22 earnings report.