Tesla stock just snapped a four-day streak of gains, and it may struggle to return to winning ways soon.

Shares of the electric vehicle maker slipped 0.4% to $326.26 ahead of Thursday's opening bell, having dropped 1.6% the previous session. Futures tracking the S&P 500 were 0.2% higher.

Tesla stock has taken a battering in 2026, and last week's rebound ended up proving short-lived. As of Wednesday's close, shares were down 27% for the year, compared with a 13% gain for the S&P 500.

Investors have been fretting about price cuts weighing on profit, delays to Tesla's robo-taxi rollout, and overspending on artificial intelligence. The nadir for 2026 so far was the company's second-quarter earnings last month, which fell well short of analysts' expectations.

If there's a revival, it probably won't happen over the next couple of weeks. Trading tends to be thin this time of year, and there aren't obvious catalysts that could spark an immediate rebound.

Still, investors will be keeping an eye out for any chatter about a merger between Tesla and rocket company SpaceX. Elon Musk is the CEO of both, and some analysts see an eventual combination as inevitable.

Either way, something will need to happen for the EV maker's beaten-down shares to claw back losses.