Tesla Stock Erases $214 Billion in a Single Day — Here's What Happened This Month - Benzinga

What the report says

Benzinga reported that Tesla Inc. remained a major market focus on Friday, July 24, 2026, after a volatile month that combined stronger vehicle delivery data, second-quarter earnings and a steep share-price decline. According to the report, Tesla’s stock suffered a 14.5% one-day drop on July 23, its biggest such fall in more than a year, wiping out about $214.5 billion in market value.

The company had earlier released second-quarter production and delivery figures on July 2. Benzinga said Tesla produced 451,758 vehicles and delivered 480,126, a 25% year-over-year increase and above Wall Street expectations of roughly 406,000 deliveries. Model 3 and Model Y vehicles accounted for 467,762 deliveries, while other models made up 12,364. Tesla also reported 13.5 GWh of energy storage deployments for the quarter.

The selloff followed Tesla’s July 22 earnings release. Benzinga reported adjusted earnings of 33 cents per share, below the 51-cent consensus estimate, while revenue of $28.24 billion exceeded analyst expectations of $25.71 billion. Automotive revenue was $20.52 billion, up 23% from a year earlier. Tesla also said trailing-12-month revenue surpassed $100 billion for the first time, and active FSD subscriptions rose 56% year-over-year to 1.48 million.

Benzinga cited investor concerns around weaker-than-expected profit, rising capital spending, supply-chain limits and the challenge of scaling Optimus robot production. The report also noted recent target cuts from UBS, JPMorgan and Morgan Stanley, while Tesla shares were slightly higher at $321.05 at the time of publication.