Explained: Why Tesla shares crashed 7% to record worst single-day fall in 1 year despite record Q2 sales

Tesla shares fell 7% to $393.45 on Thursday, marking their steepest single-day decline in a year, despite the company reporting record Q2 deliveries of 480,126 vehicles, up about 25% year-on-year and well above analyst estimates of around 402,776. Analysts attributed the sell-off to profit booking, noting that optimism about the strong delivery numbers had already been priced in after a 12% rally earlier in the week. Investors are now awaiting Tesla's full quarterly results on July 22 for clarity on margins, AI and robotaxi plans.