Tesla's shares declined 1.74% for week, two days after posting lower profits for a third straight quarter amid increased competition and loss of tax credits.

Tesla reported another drop in quarterly profits Wednesday as CEO Elon Musk warned the company could face a few "rough" quarters following the elimination of federal tax credits for electric

"Musk is CEO -- the buck stops with him. As a CEO in a competitive environment, he's the one who has to have the vision and lead the troops," David Meier, a senior investment analyst at The Motley Fool, told ABC News. "But there's a lot going on in the world that impacts Tesla's business."

Tesla CEO Elon Musk's new diner opened in Hollywood on Monday, drawing crowds of people hoping to charge their cars and experience the new "retro-futuristic" restaurant. On the social media platform X,

Ready for a ride without a driver? Tesla CEO Elon Musk says he wants to bring self-driving ride-share service to Florida.

Tesla has said it will build cheaper cars and win approval for its self-driving software in Europe this year after seeing sales fall at the sharpest rate in at least a decade. Elon Musk's electric car firm told investors it had started "first builds of a more affordable model in June" while posting a slump in car deliveries and shrinking profits.

For nearly a decade, it has been the holy grail for Tesla fans and the key to its mainstream future: a truly affordable electric car for the masses. After years of promises, delays, and speculation, the company confirmed on Wednesday that the long-awaited cheaper Tesla is finally moving from myth to reality.

Elon Musk finally admitted that Tesla’s long-promised, more affordable EV is just a stripped-down Model Y. Unsurprisingly, Verge readers had some thoughts. In an earnings call Wednesday, Tesla CEO Elon Musk “let the cat out of the bag”: The new,