Nelson downgraded the company’s stock to a neutral rating in April. But even some of the Tesla bulls on Wall Street are saying that the time for Musk to take action is running out.

Tesla has offered low-interest loans and other incentives to try to revive sales, but these efforts have depressed the company’s profits. Tesla’s newest model, the Cybertruck pickup, has been a flop. The company sold 4,300 Cybertrucks in the second quarter, according to Cox Automotive, a 50 percent decline from a year earlier.

Tesla and its CEO Elon Musk are walking an increasingly difficult tightrope as the company navigates declining electric vehicle sales and an autonomous driving business that has yet to get off the ground.

Tesla's profit slid 16% in the second quarter, it said Wednesday. CEO Elon Musk will face investors in the company's earnings call at 4:30 p.m. CT.

Tesla reported second-quarter results after Wednesday's closing bell, unveiling profits and sales in line with Wall Street expectations. Losses mounted for the stock, however, as the company's call with analysts sowed more doubts than offered answers about Tesla's prospects and Chief Executive Elon Musk said he could see potential for "a few rough quarters" ahead.

The reported exit comes at a time when Tesla is grappling with flagging sales, as demand in Europe and North America crumble amid Tesla’s aging vehicle line-up and increased competition from