The Nasdaq-100 index is made up of the 100 most valuable companies listed on the Nasdaq stock exchange, excluding banks and financial institutions. It's often used as a barometer for the performance of the technology sector, which accounts for over half its total value. The Nasdaq-100 is currently down 8% from its recent peak, and if the decline extends to 20%, it will constitute a technical bear market. The index last traded in bear territory during 2022 and 2023, which sent shares of Tesla (TSLA -1.43%) tumbling by 75% to just $100. The electric vehicle (EV) giant is at a disadvantage yet again, after reporting a disappointing set of operating results for the second quarter of 2026. Tesla stock traded as high as $498 last year, but it has since declined to $310 as I write this. Here's why I predict it will revisit $100 if the Nasdaq-100 enters another bear market. The EV business is slowly recovering Tesla is coming off two straight annual declines in its EV sales, but the tide appears to be turning in 2026. The company delivered 358,023 cars during the first quarter of 2026, which was up 6% from the year-ago period. That growth rate accelerated to 25% in Q2 with 480,126 deliveries. EV sales still account for over 70% of Tesla's total revenue, so growth in this part of the business is critical to the company's overall financial performance. Unfortunately, the average selling price of each vehicle declined during Q2, resulting in a lower gross profit margin and an 18% decline in adjusted earnings per share. It appears Tesla is cutting prices for its EV lineup to attract buyers, which is great for sales but bad for the bottom line. However, price cuts might be necessary for Tesla to remain competitive with its