Tesla (TSLA) crashes 12%, sheds $140B as Elon Musk’s ‘just trust me’ doesn’t hold anymore

Tesla stock is down more than 12% today, wiping out over $140 billion in market value, after the automaker’s Q2 2026 earnings missed on profit and free cash flow turned negative. The slide got worse during the earnings call, when Elon Musk repeated the same robotaxi and Optimus promises he’s been making for years.