Tesla shares plummeted over 9% Thursday, reducing Elon Musk's net worth by over $17 billion. This follows Tesla's second-quarter report showing a significant revenue drop and a loss from regulatory credits. The decline is attributed to the expiration of federal electric vehicle tax credits, a factor Musk acknowledged could lead to "a few rough quarters." Analysts have differing opinions on the long-term impact, with some predicting a modest reduction in credit revenue while others see it as a significant headwind.

Prepared by Christopher Adams and reviewed by editorial team.