75% of its Bitcoin assets, translating them into fiat currency and bolstering its cash reserves by an impressive $936 million.
While Tesla's Q2 report indicated a slight miss in sales — $23.33 billion versus the anticipated $23.39 billion — it still managed to meet the earnings per share expectations of $0.85. The company's shares fell further in after-hours trading. On top of the sales miss, there are lingering concerns over margins and a projected dip in Q3 production due to factory shutdowns.
Elon Musk's continued promises of robotaxis despite previous unmet pledges also cast a shadow on investor confidence. Tesla's shares initially dropped 3.7% premarket and then fell by approximately 5% in after-hours trading.
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