Tesla shares fell 8% on Thursday after the company reported its second consecutive quarter of declining auto sales and missed revenue estimates, according to CNBC. Automotive revenue dropped 16% year over year to $16.

What Happened? Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 3.9% in the afternoon session after CEO Elon Musk backed a claim that the company could reach a staggering $20 trillion valuation.

Tesla reported its Q2 earnings, which most investors already believed would show signs of continued decline of its core business. However, judging how the market would react was a

Tesla stock falls more than 6% pre-market after Q2 earnings call. Sales decline, EV incentives end, and new Model Y trim disappoints.

Earnings are expected to be around $0.44 per share, according to consensus estimates, reflecting a 15% drop compared to the previous year, while revenues are anticipated