NEW YORK — Tesla shares head into the new week coiled near $393, catching their breath after a whipsaw stretch that paired a record delivery quarter with a sharp single-day pullback. With U.S. markets closed Friday for the Independence Day holiday and shut over the weekend, the most recent print for Tesla (NASDAQ: TSLA) is Thursday's close, and the setup into July 7 is unusually loaded.
The Move
In Thursday's session, $TSLA finished at about $393.45, down roughly 7.5 percent on the day after briefly trading near $427 earlier in the week. The swing was less about any single piece of bad news and more about profit-taking: the stock had surged into Tesla's Q2 delivery report, and traders booked gains once the number was in hand. There was no fresh catalyst during the holiday-thinned Thursday tape to push shares either way, leaving the stock to drift lower on light volume.
The Why
The bigger story is what the pullback followed. Tesla delivered a record 480,126 vehicles in the second quarter, blowing past a Wall Street consensus of roughly 406,000 and marking its strongest Q2 ever, as detailed in our Q2 delivery breakdown. That beat reset the fundamental backdrop, even as the share price gave back some of its pre-report run. Not everyone is convinced: investor Michael Burry disclosed a fresh short against Tesla at around $416, though Tesla bulls have largely shrugged it off given the delivery momentum and the company's widening lead in autonomy.
Here is the market-data snapshot as the week opens: $TSLA last traded at about $393.45, down roughly 7.5 percent in Thursday's completed session, after ranging from the high $370s to about $427 over the past few weeks and sitting well above its spring lows. Investors can confirm live quotes on Yahoo Finance, Google Finance, WSJ, and Nasdaq.
