Tesla’s retro-themed diner opened this week with lines around the block, but that didn’t stop the stock from dipping after hours as it reported its Q2 earnings.
Tesla shares slumped nearly 5% in after-hours trading as it reported mixed results in the June quarter, caused mainly by a slump in automotive revenue.
Its Bitcoin holdings remained unchanged, but the company reported its value had exceeded $1.2 billion as the crypto market rallied. It also opened a new retro-themed diner in West Hollywood to some fanfare.
Tesla is one of the bellwethers for the broader tech sector, and is part of Big Tech’s “Magnificent 7,” which can offer clues to the appetite for high-risk and reward assets. Tesla stock (TLSA) ended the after-hours trading session at $317.80, according to Google Finance.
