Tesla stock price:

1. **Poor financial performance**: Tesla's latest earnings report shows that although revenue increased year-over-year, the growth rate was the slowest in three years, and net profit declined significantly compared to the same period last year. In particular, the gross margin dropped from 25.1% to 17.9% year-over-year, which may have raised concerns in the market about Tesla's profitability.

2. **Impact of price reduction strategy**: To stimulate sales growth, Tesla has implemented price cuts in multiple countries and regions. While this has helped boost sales, it has also sacrificed the company's gross margin, which may lead investors to feel uncertain about Tesla's future profit prospects.

3. **Deliveries fell short of expectations**: Although Tesla's global vehicle deliveries increased year-over-year, they declined quarter-over-quarter and failed to meet market expectations. In particular, sales data from the Chinese market showed a year-over-year decline, which may have raised concerns among investors about Tesla's market demand.

4. **Intensifying competition**: The electric vehicle market is becoming increasingly competitive, with many traditional automakers and emerging EV companies ramping up their investments and competition in the sector. This could pose a threat to Tesla's market share.

5. **Regulatory investigations**: Tesla's Autopilot driver-assistance system is under investigation by U.S. regulators in connection with multiple traffic accidents. Such regulatory pressure could have a negative impact on the company's reputation and future development.

6. **Macroeconomic factors**: Uncertainty in the global economic environment, including inflationary pressures, rising interest rates, and potential recession risks, may lead investors to reduce their investments in risk assets, thereby affecting the performance of high-growth stocks like Tesla.

7. **Market sentiment and investor behavior**: Changes in market sentiment and profit-taking by investors may also cause stock price fluctuations. Tesla's stock is highly volatile, and investor trading decisions may amplify short-term price movements.

It is important to note that stock price fluctuations are influenced by a variety of factors, including company-specific issues, industry trends, market sentiment, and macroeconomic conditions. Investors should consider these factors comprehensively and implement appropriate risk management when making investment decisions.