Why is Tesla down today

Tesla's stock decline today can be attributed to a combination of factors:

1. Demand and Market Conditions: The drop in Tesla's stock price could be due to a decrease in demand for the company's goods, unfavorable company news or announcements, or a general deterioration in market conditions.
2. Financial Performance: Tesla's stock has been affected by its financial performance, including a reported 43% decline in Q2 earnings to 52 cents per share and a 2% increase in quarterly revenue to $25.5 billion. The company's gross margins fell by 23 basis points to 18%, which may have contributed to investor sentiment.
3. Regulatory Pressure: Tesla faces increasing regulatory pressure, as evidenced by investigations into the company's faulty suspension and steering parts. This could raise concerns about the company's compliance and potential legal expenses.
4. Technical Support: The stock has also traded down due to technical support levels, with investors looking at charts to gauge where support levels are. This could indicate that the stock price has reached a level where it is likely to face selling pressure.
5. Market Sentiment: The overall market sentiment towards Tesla may have been bearish, with the stock being down around 10% in August and having declined 14% since Q2 earnings. This could indicate a lack of confidence in the company's short-term prospects.
6. Valuation Concerns: Tesla's stock is still valued like a growth stock, but the company is not growing at the same rate as it once did. This valuation discrepancy could lead to selling pressure as investors adjust their positions.

In summary, Tesla's stock decline today is likely a result of a combination of factors including poor financial performance, regulatory challenges, market sentiment, and valuation concerns.