Tesla Stock Dives 3% to $365 as Musk Registers 304M Shares

Tesla shares tumbled 3% to $365.12 on Monday after Elon Musk's SEC filing registered nearly 304 million shares from his reinstated 2018 compensation plan, raising fears of increased float and selling pressure. This extends downside from Q1 earnings on April 23, where adjusted EPS beat at $0.41 versus $0.37 expected but revenue missed at $22.39 billion against $22.64 billion, alongside raised full-year capex to $25 billion, a $2 billion equity-funded AI-hardware acquisition, and targets for Optimus production in late July/August plus robotaxi in 12 states by end-2026. Stock initially fell 3.5% to $374.08, briefly recovered to $376.30, but now sits down 6.1% weekly and 16% year-to-date amid volatility.