Tesla shares plunged over 7% despite the EV maker reporting record second-quarter deliveries that beat Wall Street estimates. Analysts attributed the sell-off to profit booking after the stock's recent rally, with investors now focusing on Tesla's AI, robotaxi and self-driving ambitions for future growth.

TSLA was down about 8% by 1 p.m. EDT on Thursday.

Tesla stock dropped 7% on July 2 despite record Q2 deliveries of 480,126 vehicles, beating Wall Street estimates by nearly 20% in a classic sell-the-news