Tesla stock dropped early Wednesday ahead of its second-quarter earnings report. Shares were at $330.64 in early trading, down 0.4%, while the S&P 500 and Dow Jones Industrial Average were up 0.4% and 0.

Tesla is scheduled to report its second-quarter results after the market closes on Wednesday, with investors expecting the electric vehicle maker's stock could make a sizable move.

Earnings are expected to be around $0.44 per share, according to consensus estimates, reflecting a 15% drop compared to the previous year, while revenues are anticipated