Tesla Stock Snaps 6-Day Slide Despite Q2 Deliveries Miss — Bullish Analysts Say It’s Not So Bad

Tesla shares ended higher on Wednesday even as the latest delivery numbers missed Wall Street estimates, indicating that investors are now fully embracing CEO Elon Musk’s broader vision that extends beyond just selling cars.

The stock snapped a six-day losing streak on Wednesday, closing up nearly 5% at $315.65, with a modest after-hours gain pushing it to $316.32.

The company reported delivering 384,122 vehicles during the second quarter, representing a 14% decline from the same period last year, missing a FactSet-compiled consensus estimate of 387,000 deliveries.

However, Wedbush Securities analysts led by Dan Ives called the results “better than feared,” citing early traction for Tesla’s refreshed Model Y, particularly in China. After months of declining sales in the region, the company saw a modest rebound in June. Model 3/Y deliveries totaled around 373,700 vehicles, with another 10,400 coming from the rest of Tesla’s lineup. 

Tesla’s second-quarter production hit 410,200 units.

Wedbush reaffirmed its ‘Outperform’ rating and $500 price target over the next year, saying Tesla’s scale, despite headwinds, still positions it to lead in the global push toward full autonomy.

Gene Munster of Deepwater Asset Management echoed that view, noting the number was better than many, including himself, had expected. He described the quarter as likely marking a bottom for delivery declines, and believes the outlook could improve, particularly in the U.S., where a looming EV tax credit expiration could push more buyers to act before year-end.

Looking beyond raw delivery numbers, Munster said the real story now is autonomy. 

He believes investors are increasingly willing to tolerate flat vehicle volume if Tesla shows clear progress on Full Self-Driving (FSD) and Robotaxi development. 

Munster outlined a few key milestones he’s watching: expanding the FSD testing zone in Austin, scaling from about 15 active Robotaxis to a few hundred by the end of Q3, and launching pilot programs in new cities, such as San Antonio or Los Angeles.

Although Tesla still faces challenges ranging from intensifying EV competition in China to political noise surrounding Musk, Wedbush said Tesla is on a path to accelerated growth in the second half of 2025, driven by the Model Y refresh and progress in autonomy, FSD, and robotics.

On Stocktwits, retail sentiment for Tesla was ‘neutral’ amid ‘high’ message volume late Wednesday.

Tesla’s stock has declined 16.8% so far in 2025, making it one of the worst performers on the S&P 500.

For updates and corrections, email newsroom[at]stocktwits[dot]com.