Tesla (NASDAQ: TSLA) stock hit a new record high shortly after President Donald Trump's election win last November because investors thought a friendlier regulatory environment could help the company bring its autonomous robotaxi and humanoid robot to market more quickly.

Tesla's first-quarter earnings report itself was a disaster, but Musk gave investors some much-needed good news on the conference call.

A sobering quarterly report puts more prssure on Tesla’s chief executive to make good on his promises for fully autonomous vehicles.