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."

Musk originally brought up the concept of the retro-diner concept in 2018. The Tesla Diner & Drive-In combines a 1950s-style American diner with Tesla technology. Located on Santa Monica Boulevard, it's open 24/7 and features both indoor and outdoor seating for up to 250 people.

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,