Tesla stock is up 4% this week despite year-to-date losses
Tesla’s stock has bounced from a recent 52-week low, trading around $345. The company’s record Q2 deliveries of 480,000 units produced just 1.4% operating margin.
The auto business is funding Tesla’s other ventures, with a capital program guided above $25 billion for 2026. Q2 capex hit $5.79 billion, driving a 47% surge in operating expenses.
The market cap is about $1.4 trillion, and the trailing P/E is near 306x. Wall Street has a consensus target of $396.62, while prediction markets price a $326.34 target, indicating 5.81% downside.
Tesla’s structural problems include strategic sprawl, with Musk running six major companies and a $1 trillion pay package driving expenses.