Tesla shares fell nearly 3% after hours after second quarter adjusted earnings and margins missed expectations despite record revenue and deliveries.

Tesla delivered 480,126 vehicles in Q2, beating estimates. The stock dropped. Rivian's R2 targets Tesla's core price band. Options traders are positioning bearish.

Tesla shares are trading in a narrow range ahead of Q2 earnings, with a bearish setup and mixed Edge Rankings keeping traders alert.

Q2 2026 was profitable, but barely.