Tesla shares fell for an eighth consecutive week as the company’s weak start to 2026 continues, with investors now looking ahead to first-quarter earnings due later this month, News.Az reports, citing Yahoo Finance.
Tesla stock, while slightly higher in early Friday trading, was still down 3.2% for the week, marking its longest losing streak in recent periods. The stock has dropped 22.4% year-to-date, while the S&P 500 remains roughly flat.
Analysts say the company’s seasonal trading pattern—typically weaker in the first half of the year—has added pressure, leaving investors searching for new catalysts to reverse the slide.
The Tesla led by Elon Musk is expected to unveil version three of its Optimus robot this month. However, no recent updates have been provided, leaving uncertainty around its rollout. The company has not yet sold any robots, although Musk has said they are being used in limited functions inside Tesla factories.
Tesla’s Cybercab reportedly reached a production milestone in the first quarter, with vehicles seen parked at Giga Austin. However, it remains unclear when the model will go on sale, and updates on robotaxi plans have also been limited.
The company continues to operate robotaxi and ride-hailing services in Austin and the San Francisco Bay Area, though all rides remain supervised with safety drivers in the vehicles.
When the fleet becomes fully unsupervised, with additional territories added, it will be a big milestone for Tesla. Meanwhile, Alphabet’s (GOOG, GOOGL) Waymo robotaxi service is, for the most part, unsupervised, with Waymo adding new service territories every few months.
While the AI and robotics ventures are what seemingly float Tesla’s high valuation, with a forward P/E of 172, per Yahoo Finance statistics, news on the bread-and-butter auto front could be a big shot in the arm.
Reuters reported on Thursday that Tesla is developing a cheaper electric SUV, citing four people familiar with the matter. Tesla has recently approached suppliers to discuss manufacturing processes and component specifications for the new vehicle. However, the report notes that it’s still early days and that the company has made no concrete plans to proceed with production.
New vehicles in a new market segment would be welcome news for Tesla’s slipping sales.
Earlier this month, Tesla reported it delivered 358,023 vehicles globally, up 6.3% year over year, though the company’s total from last year is a bad comp because Q1 2025 was negatively affected by the changeover to the new Model Y, which impacted production and sales.
Investors will get more details on Tesla’s Q1 performance and potential new catalysts for the stock when the company reports results on April 22.
