Tesla stock is down more than 12% today, wiping out over $140 billion in market value, after the automaker’s Q2 2026 earnings missed on profit and free cash flow turned negative.

The slide got worse during the earnings call, when Elon Musk repeated the same robotaxi and Optimus promises he’s been making for years.

Tesla told shareholders this week that its Robotaxi service is expanding. The company’s own chart proves it isn’t.

In its Q2 2026 update, Tesla leaned on a cumulative “paid Robotaxi miles” chart climbing past 2.4 million miles as its headline proof of momentum. But break that curve into quarters and the growth flatlines: Robotaxi added roughly 900,000 paid miles in Q2 2026, the same as it did in Q1.

Tesla switched on its “Robotaxi” service in Tampa and Orlando on Monday, adding two Florida cities to a driverless network that still runs on a couple dozen cars. The company’s @robotaxi account announced it in a four-word post: “Robotaxi now in Tampa & Orlando!”

The timing isn’t subtle. Tesla reports second-quarter earnings on Wednesday, and Robotaxi is the story Elon Musk keeps selling to investors. Two new city names the day before make for a nice slide. The fleet behind them tells a different story.

Tesla and Starlink say SpaceX’s satellite internet is now “directly integrated” into the Cybercab, Tesla’s dedicated robotaxi.

The reveal came through a pair of posts on X on Monday, with a cutaway diagram showing a Starlink antenna sitting in the vehicle’s roof. Neither company explained why a car that drives itself on its own computer needs internet from space.

Tesla has filed four new “Robotaxi” crash reports with NHTSA, and the most revealing one involves a Tesla remote operator driving the vehicle into a tree stump in Houston.

It’s the third crash Tesla has now reported involving a human operating the car remotely caused the collision — and the first one Tesla has formally coded as remote operation in its filing.