Tesla Shares Fall 7.5% on July 2 Despite Beating Q2 Delivery Forecast by 74,000 Units

According to CNBC's Phil LeBeau, Tesla shares fell 7.5% on Thursday, July 2, despite delivering 480,126 vehicles in the second quarter—exceeding analyst expectations of 406,600 units by 74,000 vehicles. The selloff came three trading sessions after a powerful 8% rally triggered by the release of FSD v14 Lite update on June 29, which boosted investor enthusiasm around the company's self-driving technology. By the time the delivery report was released, much of the optimism had already been priced into the stock, analysts noted.
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