Tesla is slated to report second-quarter results after the market closes on Wednesday, after deliveries fell short of estimates earlier this month.

Investors want to hear from Musk and judge his mind-set. Most investors know Musk is key to Tesla’s future and key to its valuation multiple. Tesla trades for roughly 180 times estimated 2025 earnings, according to FactSet.

In its first-quarter earnings report in April, Tesla said it going to be "difficult" to measure the impact of trade wars on its supply chains and cost structure, but added that it would "revisit" its 2025 guidance at the time of the second-quarter report.

Tesla is slated to report second-quarter earnings after the market closes July 23, and bearish UBS analysts said Monday that the electric vehicle maker's stock remains "fundamentally overvalued."

Tesla reported slightly better-than-expected second-quarter earnings per share on Wednesday evening. The stock was rising. The EV maker announced second-quarter adjusted earnings per share of 40 cents from sales of $22.

Tesla shares took a hit Thursday after the company reported a 16% decline in automotive sales and a 12% decline in total revenue for the second quarter compared with one year ago.

Altogether, Tesla stock could be a good buy today if investors have a high level of confidence in the electric-car company's ability to execute its ambitious plans over the next decade. But ...

Politics. Elon Musk and other Tesla executives talked about the negative impact of President Donald Trump’s tariff policy and tax bill, but Musk didn’t grab the chance to tout the “America Party” he said he was starting earlier this month.