Key Takeaways Tesla is scheduled to report second-quarter earnings after the closing bell on Wednesday, after deliveries fell short of estimates earlier this month.Revenue and profits are each expected to decline compared to the same time a year ago.

With the stock sporting a triple-digit price-to-earnings ratio (and that's on a forward-looking basis), the case for buying Tesla before its July earnings report just isn't there. Any new investor is betting big on the company's ability to deliver on its bold promises -- I'm not confident it can.

Retail messages on Stocktwits about EV giant Tesla Inc. (TSLA) have declined by about 28% over the past seven days, ahead of the company’s second-quarter earnings. Tesla is scheduled to report its second-quarter (Q2) earnings after the market closes on Wednesday,

Earnings are expected to be around $0.44 per share, according to consensus estimates, reflecting a 15% drop compared to the previous year, while revenues are anticipated

Cathie Wood and Ark Invest continued to scoop up TeslaTSLA in Tuesday stock market with the EV giant poised to announce second-quarter earnings next week. Meanwhile, Tesla stock has formed a new valid base but is hitting resistance at key levels.