Tesla Stock Performance Update
Tesla (NASDAQ: TSLA) closed at $307.44 on Tuesday, marking a slight increase of approximately 3% above its 52-week low of $297.82. This move comes on the heels of a notable dip, where the stock experienced a single-day drop of 15% following the company’s second-quarter earnings report last week, which revealed record deliveries of 480,126 vehicles but also a significant decline in operating income.
In the last quarter, Tesla’s operating margin fell to just 1.4%, a drop from 4.1% the previous year, as operating income dropped 57% year over year to $398 million. The company’s revenue, however, grew by 26% year over year, reaching $28.2 billion. Notably, Tesla’s capital expenditures surged to $5.8 billion, more than double from the prior year, contributing to negative free cash flow.
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