Tesla shares fall 15% on July 23, the biggest one-day drop since March 2025

Tesla shares fell 15% in New York on Thursday, July 23, the steepest one-day decline since March 2025, after Q2 profit fell well short of Wall Street estimates. Bloomberg tied the selloff to spending on AI initiatives that reached $5.8B in the quarter and produced the company's first cash burn in two years. The decline left the stock down 29% for the year at that point.

• Shares down 15% on July 23, 2026, the largest one-day drop since March 2025
• Year-to-date decline widened to 29%
• Q2 capex about $5.8B, producing the first cash burn in two years
• Profit missed estimates by a wide margin, per Bloomberg