Investor's Corner
Tesla (TSLA) short-sellers’ media publicity called out by high-profile finance veteran
The past few months have been challenging for Tesla and Elon Musk. As the company attempted to make progress in its efforts to ramp the production of the Model 3, a consistent stream of attacks from short-sellers and critics, as well as aftereffects of Musk’s own behavior on Twitter, have weighed heavily on Tesla stock.
Amidst the constant stream of negative reports against the company coming from mainstream media, James Anderson, co-manager of Scottish Mortgage and a senior partner at Baillie Gifford in Edinburgh, noted that while some of Elon Musk’s actions, particularly against British diver Vernon Unsworth, were “ethically unacceptable,” the CEO is not really one of the biggest problems of the company. Rather, it is the prevalent — and at times aggressive — attacks it consistently receives from critics and short-sellers.
Anderson was recently featured in a segment of Citywire Money, where he discussed Tesla’s expenses as it ramped the Model 3, the peculiar amount of publicity given to TSLA short-sellers, and Elon Musk’s actions online. The Baillie Gifford senior partner noted that it wasn’t particularly surprising to his firm that Telsa is spending a lot as it grows, considering that the electric car maker is “building a car company in a completely different way with a completely new technology.”
That being said, the financial industry veteran opted to call out the media coverage of Tesla’s short-sellers and critics, who have been given a surprisingly generous amount of publicity. Anderson noted that the media needs to ask itself a lot of questions, particularly regarding the rhetoric of TSLA short-sellers, as well as their “vicious” hypothesis against the electric car maker.
“I feel the media in general needs to ask itself a lot of questions – which is the extraordinary level of publicity given to the claims and rhetoric of the absolutely vicious short investment hypothesis and individuals behind them. I think that they are not to be viewed as a beneficial force for allowing a convenient avenue to attack over enthusiasm,” Anderson said.
The Scottish Mortgage co-manager further noted that while some of Elon Musk’s actions on Twitter were ethically unacceptable, it should be noted that the actions of some of the company’s short-sellers and critics against Tesla and Elon Musk are just as unethical.
“I think these people try and make their claims come true in ways that to me seem. I said Mr. Musk behaved unethically — I believe many of these people do as well, and I do wish that many of our most prominent media personalities and institutions would examine the claims and records of many of these people. And in some cases there is a lot of evidence through court cases of just how malignant they can be,” he said.
Anderson’s observations about the behavior and prevalence of Tesla’s critics in the media are quite accurate. Rarely does a day go by, after all, when Tesla sees few negative stories about its business, or about Elon Musk himself. Last week, for example, the departure of Tesla’s CAO ended up being augmented by Elon Musk’s single whiff of cannabis during a podcast, causing the company’s stock to drop.
Even small-time Tesla short-sellers are beginning to gain support from mainstream media. Late last month, Reuters published a report celebrating the sleuthing work being conducted by several TSLA shorts, including an anonymous Twitter user known for posting misogynistic, aggressive, and racist comments against Tesla supporters. Michelle Price, one of the writers of the piece, later clarified in a follow-up Twitter post that they did multiple and varied checks on the anonymous TSLA short that they featured before considering the person as a valid source.
As of writing, Tesla shares (NASDAQ:TSLA), in which Baillie Gifford holds a 7.8% stake and which accounts for 5% of Scottish Mortgage assets, is trading up 1.67% at $294.27 per share.
Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.
Elon Musk
Tesla Semi finally has an FSD timeline and it’s waiting on the Cybercab
Elon Musk told investors Semi self-driving should start working by early 2027, per today’s earnings.
During Wednesday’s’ Tesla Q2 earnings call, an analyst asked Elon Musk when Tesla would look at autonomy for the Semi. His answer set a real timeline for the first time, noting that self-driving on the Tesla Semi is expected to start working “around the end of this year or early next year”.
Musk framed the delay as a matter of priority, not capability. Tesla’s self-driving team is currently focused on Model 3, Model Y, and Cybercab, the vehicles that make up the overwhelming majority of Tesla’s fleet. Since Semi trucks on the road remain a small fraction of that total even after the recent Nevada factory ramp, Musk said it made more sense to keep the software team’s attention on what he called “the march of nines of safety” for the higher volume vehicles first. Autonomous Semi development is “taking a bit of a backseat for the next six months or so,” he said, before adding that it “will definitely be working next year and in time for the scale-up to high production of the Tesla Semi.”
Tesla Semi’s official battery capacity leaked by California regulators
The timeline lines up with what’s already been showing up on public roads. In June, a Tesla Semi was spotted in Sunnyvale wearing a full validation rig, the same rooftop sensor array Tesla mounts on vehicles ahead of an FSD milestone.
A second unit was seen near Fremont days later with a matching camera suite and lens washers. Separately, Tesla analyst Nic Cruz Patane posted video this month of the production Semi’s exterior camera array, ten AI4 based units built directly into the truck rather than added later.
Tesla Semi AI4 cameras. The production version has 10 cameras on its exterior.
These trucks are designed to be autonomous. pic.twitter.com/GH3BamxIBQ
— Nic Cruz Patane (@niccruzpatane) April 14, 2026
Musk also gave the reason autonomy on the Semi matters in the first place, a persistent shortage of qualified truck drivers. “There is a really serious shortage of truckers,” he said on the call, framing a self-driving Semi as important both for addressing that shortage and for improving safety and comfort for the drivers running the truck today.
The timing also tracks with the Semi’s production reality. Tesla’s Q2 shareholder letter, dropped language promising the Semi would reach volume production this year. Musk pointed to 4680 battery cell output as the near-term constraint on Semi and Cybercab production. A software timeline landing in early 2027 gives Tesla’s autonomy team room to work while the hardware ramp catches up behind it.
It’s worth nothing that this isn’t necessarily a promise the Semi ships driverless next year. Musk’s own language, self-driving “working” by early 2027, describes internal validation catching up to hardware already riding on every production truck, not a public unsupervised rollout.
Tesla (NASDAQ: TSLA) reported its earnings for the first quarter of 2026 on Wednesday afternoon. Here’s what the company reported compared to what Wall Street analysts expected.
The earnings results come after Tesla reported a massive beat on vehicle deliveries for the second quarter, delivering 489,126 vehicles and building 451,758 cars during the three-month span.
This was a major shock for those on Wall Street as they anticipated somewhere around 400,000 deliveries for the quarter, and showed Tesla still has plenty of demand for its vehicles around the world and in the U.S. despite losing the $7,500 EV Tax Credit last year.
Tesla Q2 2026 Earnings Results
- Non-GAAP EPS – $0.33 reported vs. $0.53 expected
- Revenues – $28.236 billion reported vs. $26.4 billion expected
- Free Cash Flow- -$1.092B
- Profit -$ 4.751B
Tesla (beat/missed) analyst expectations, so the market response to the company’s quarter is what we will look for next.
Tesla shares closed today down just over 1 percent, trading at $374.01.
In the past, it has been anyone’s guess with what Tesla shares will do after they report earnings. Strong quarters have resulted in sharp drops, while lackluster quarters have seen the stock shoot up considerably.
Tesla will hold its Q2 2026 Earnings Call in about 90 minutes at 5:30 p.m. on the East Coast. Remarks will be made by CEO Elon Musk and other executives, who will shed some light on the investor questions that we covered earlier this week.
You can stream it below. Additionally, we will be doing our Live Blog on X and Facebook.
Q2 2026 Earnings Call https://t.co/zZS6ii2TWK
— Tesla (@Tesla) July 22, 2026
Tesla (NASDAQ: TSLA) will report its earnings for the second quarter of 2026 this evening after market close, and investors and analysts are waiting anxiously to see what the company will report for the second three-month span of the year.
Analysts have already put out their expectations from a financial standpoint for the company’s second quarter, but what’s unknown is what Tesla plans to discuss during the call.
Financial Expectations
Wall Street consensus expectations put Tesla’s Earnings Per Share (EPS) at $0.53, while revenues are expected to come in around $26.4 billion.
This would compare to an EPS of $0.39 and $22.19 billion compared to Tesla’s Q2 2025. Last quarter, EPS came in at $0.41 on $22.387 billion of revenue. Additionally in Q1, Tesla beat analyst expectations, but shares dropped over 3 percent the following trading day.
What We Expect
In terms of discussions, Tesla earnings are pretty sporadic and depend on a handful of things, including current events, investor questions, and more.
Tesla uses a platform called Say to field questions from investors and analysts. These questions are what will be used during the call. Here are the top 5 from the Retail side and top 3 from the Institutional side:
Retail:
“Tesla has missed short-term guidance on robotaxi 3 earnings reports in a row, from 50% coverage of USA by end of 2025 to most recently 7 new cities in 1H26. What is keeping Tesla back from accomplishing these short term goals that they’ve set for themselves?”
“What are the main constraints to expanding robotaxi operations faster, and how do you see that lining up with Cybercab production?”
“What’s the current status of Optimus Gen 3 production ramp, initial deployment in factories, and external sales timeline/volume for 2027? What tasks can we expect the Optimus to perform by end of 2027?”
“To reward long-term Tesla retail shareholders for their loyalty, can you commit to achieving at least half of the goals outlined in your 2025 compensation plan before considering any offers to acquire or merge Tesla?”
“Why has growth of robotaxi vehicles stalled? When will we see cybercab start customer rides?”
Institutional
“Previously, you’ve said Tesla would lead the R&D while SpaceX would lead production for Terafab. Can you provide an update on how that division of responsibilities is evolving, and any additional clarity on the expected capital contributions from Tesla and SpaceX?”
“For autonomous driving, Tesla’s fleet created a huge data advantage by collecting billions of real-world miles. That advantage doesn’t yet exist for Optimus. How should we think about data availability and its impact on Optimus development?”
“Why is it necessary to limit robotaxi operations within specific zones within cities to start? Will every city have to be rolled out this way?”
Tesla will report earnings for Q2 this evening with the Shareholder Deck at 4 p.m. ET, with the call starting around 5:30 p.m. ET.
Tesla Semi finally has an FSD timeline and it’s waiting on the Cybercab
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
