(NASDAQ: TSLA) just had one of its most disappointing quarterly periods ever. That's not surprising, considering the backdrop of slowing electric-vehicle (EV) sales growth, but it's disappointing, nonetheless.

The stock market is forward-looking, and Tesla shares had already been beaten down based on lower vehicle production and deliveries, compared to the prior-year period. The stock has declined nearly 40% so far in 2024, even after shares rebounded when first-quarter results were announced.

That bounce in the stock was due to investors looking at the future. There will be a more affordable EV offering coming from Tesla.

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Source Fool.com