Tesla’s Struggling Stock Performance
Tesla (NASDAQ: TSLA) has seen its shares drop 26% year-to-date in 2026, amid declining investor confidence as they shift their focus toward artificial intelligence (AI) stocks. Following a surge in vehicle deliveries from 100,000 in 2017 to 1.8 million in 2023, total vehicle deliveries have stalled, negatively impacting share prices.
The company is pushing into AI, with plans for the Cybercab, a self-driving taxi, and 1.48 million active subscriptions for its full self-driving (FSD) software, which has grown 56% year-over-year. However, Tesla’s operating margin has fallen to 4.6% from a historical peak of over 15%, amid projected capital expenditures of $25 billion this year, doubling previous spending. Shareholders are now closely watching the potential for a merger with SpaceX, which Elon Musk indicated could happen but did not confirm.
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