Tesla shares plunged more than 8% on Thursday, ending an 11-day winning streak. The company reportedly delayed the launch of its much-anticipated robotaxis by two months to build more prototypes.
Tesla closed down 8.44% at $241.03, its lowest close since July 2, when it closed at $231.26, and its biggest one-day percentage drop since a 12% drop on January 25.
Thursday's decline ended the stock's 11-day winning streak and sent it back into negative territory this year, down 3%, while the S&P 500 is up 17% so far this year.
Tesla has not yet made any official comment on the reported delay. The company is due to report second-quarter earnings after the U.S. market closes on July 23.
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