Tesla stock risks drop to $300 as earnings selloff deepens
Tesla shares plunged 14.5% after weak quarterly results despite progress in Cybercab and robotaxi development. Selling pressure could persist during the second post-earnings session, while a break below $314 would open the way toward $300.
The main positive development was progress in autonomous transportation. Tesla announced the start of Cybercab production in Texas, while its robotaxis logged around 380,000 miles without a driver inside the vehicle. However, the service remains limited in scale, and its financial impact has not been disclosed.
These developments were not enough to offset the negative sentiment caused by Tesla’s weak second-quarter 2026 report. Following the results, Morgan Stanley lowered its price target from $417 to $400, citing higher capital expenditure and the risk of prolonged negative cash flow.
Post-earnings momentum puts $314 support in focus
By the close of the July 23 trading session, Tesla shares had fallen by 14.5%. As noted previously, the stock continued moving lower in the direction of the earnings gap.The Second Day Earnings setup is now relevant, as the initial post-earnings move can continue into the second trading session. This is not a guaranteed pattern, but after such a sharp selloff, the risk of sustained bearish momentum remains high.
The nearest support level is $314. A decisive break and sustained move below this level would increase the likelihood of a further decline toward the psychological $300 mark.
RSI (14) is already signaling oversold conditions, gradually increasing the probability of a technical rebound. However, as in the recent case of IBM, Tesla shares may need several trading sessions to stabilize and form a local bottom.
The first recovery signals would be a successful defense of $314, narrower daily candle ranges and declining selling volume.
Tesla selloff may extend after weak earnings
Tesla’s weak quarterly report triggered a major repricing of the stock, while progress in robotaxi development has yet to give investors sufficient reason to return. The risk of continued selling remains elevated during the second post-earnings session, especially if support at $314 breaks.
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