July 26, Tesla's stock rose over 2% in early trading but ended the day with a slight decline of 0.2%, closing at $219.80. This performance was modest compared to the S&P 500's 1.1% gain and the Dow Jones' 1.6% rise.

Phillip Securities analyst Jonathan Woo downgraded Tesla's rating from "reduce" to "sell" and lowered the price target from $145 to $135. However, the stock price remained relatively stable as Woo's downgrade, along with previous ones, had already accounted for recent negative factors.

Tesla reported second-quarter earnings of 52 cents per share, falling short of Wall Street's expectation of 61 cents per share, leading to a 12% drop in stock price. Despite the disappointing quarterly performance, there were mitigating factors such as higher-than-expected costs from employee layoffs and restructuring, and better-than-expected regulatory credit sales. These offsetting factors brought the quarterly results close to analyst predictions.

Technical analysis shows that Tesla's stock found support around $225, a level predicted by CappThesis founder Frank Cappelleri before the earnings report. This support level seems reasonable as investors await further news, particularly Tesla's Autonomy Day on October 10.

Investors are keenly focused on Tesla's self-driving and robotaxi technology. Although the quarterly report did not significantly alter market expectations, optimism around self-driving technology has increased Tesla's market value by approximately $300 billion since the April low.