Tesla stock fell sharply on July 23 after the company reported second-quarter results that missed expectations on profit and free cash flow.
The shares closed near $320, down about 14.5 percent from the previous session's open around $374. The decline wiped out more than $140 billion in market value.
Tesla posted record revenue of $28.2 billion, up 26 percent from a year earlier, and delivered 480,126 vehicles. Operating income dropped 57 percent to $398 million, while non-GAAP earnings per share of $0.33 fell short of the $0.53 analysts had forecast. Free cash flow turned negative by $1.1 billion as capital spending rose 142 percent to $5.8 billion.
During the earnings call, Chief Executive Elon Musk highlighted strong Full Self-Driving take rates in approved markets, with about 55 percent of North American deliveries including the feature. He also outlined timelines for Optimus production and said self-driving capability for the Semi truck is expected around the end of this year or early next year.
Investors focused on the profit shortfall and heavy spending on future projects, pushing the stock to multi-week lows.
