Tesla Stock Crashed Today. Why Elon Musk Thinks It's Time to Buy.

Core Insights - Tesla's second-quarter deliveries fell by 13.5% year-over-year, leading to a significant drop in stock price, with shares down approximately 9% after the financial update [1][2][4] - Automotive revenue declined by 16% compared to the previous year, indicating pressure on vehicle pricing and a decrease in gross profit margin [4] - Free cash flow for the second quarter was reported at only $100 million, and the energy generation and storage business also saw a 7.5% revenue drop year-over-year [5] Future Outlook - CEO Elon Musk expressed optimism about the future, predicting that autonomous ride-hailing could be available to half of the U.S. population by the end of the year, contingent on regulatory approvals [6] - The potential for Tesla's robotaxi business is significant, with some analysts estimating it could evolve into a trillion-dollar market, positioning Tesla as a major player due to its extensive data from existing EVs [6] Investor Sentiment - Despite the disappointing financial results, some investors may view the current dip in stock price as a buying opportunity, particularly with the potential of the robotaxi market [2][7] - Historical context suggests that Musk's bold predictions may not always come to fruition, leading to caution among risk-averse investors [7]