"Tesla cannot afford a misstep with the robotaxi service," said Camelthorn Investments adviser Shawn Campbell, who owns Tesla shares. He added that "the wheels are coming off" its automotive business, with sales declines across "almost every market."

Tesla posted a 16% profit drop and a 12% revenue slide as EV demand weakens, tax credits vanish, tariffs bite, and Musk admits the pain may last for quarters to come.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

It wasn't just Tesla that reported a drop in new car registrations in June, however. Europe's four best-selling automakers all sold fewer cars.

U.S. stock index futures were mixed on Thursday as investors assessed earnings from Alphabet and Tesla while focusing on progress in trade deals between the U.S. and its top partners.

Tesla Inc. is in early talks with officials in Nevada to establish autonomous vehicle operations in the state as the automaker plans an expansion of its recently introduced robotaxi service.

The tech company reports its third quarter of declining profits in a row, amid the ongoing backlash against Elon Musk's foray into politics.

Wall Street looks bearish on Tesla at first glance. And it is -- at least on average. But plenty of analysts and everyday investors remain extremely bullish.