Tesla Falls 12% Post Q2 Earnings Miss; Rivian and Lucid Stocks Decline
Sectors & Industries
August 1, 2024
Tesla's stock fell over 12% July 24th after second-quarter earnings missed expectations, despite beating revenue forecasts with $25.5 billion compared to the estimated $24.77 billion.
Shares of EV rivals Rivian Automotive and Lucid also declined, dropping around 7% and over 5%, respectively.
RIVN stock pulled back after a judge failed to dismiss a lawsuit brought by Tesla against Rivian for intellectual property theft.
The case is now headed to trial after the judge ruled there was sufficient evidence to warrant a trial.
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