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 hits 480k Q2 deliveries (up 25% YoY), but TSLA stock drops 7% to $394.74. Read the full Q2 production and technical analysis.