Tesla (TSLA) Shares Drop 6.9% Amid Roadster Demo Delay to August

Shares of Tesla (TSLA) fell 6.9% on June 6, 2026, after reports that the company postponed the next-generation Roadster demo to August, its third delay since initially targeting April 1. The news overshadowed a JPMorgan upgrade from Underweight to Neutral with a price target raised to $475. The Roadster postponement underscores Tesla’s scarcity of new product launches—its last all-new vehicle was the Cybertruck in November 2023. JPMorgan’s analyst framed Tesla as a “physical AI” company with an earnings inflection expected in 2028, but said the lofty valuation leaves little room for missed milestones. A stronger-than-expected May jobs report also fueled concerns that the Federal Reserve will keep interest rates elevated, pressuring growth-stock valuations. Tesla shares have declined 10.3% year-to-date and are trading at $392.89, 19.8% below their 52-week high.