Wall Street may be skeptical about Tesla’s upcoming quarters, but CEO Elon Musk made four surprising announcements that could be game-changers — if they prove true.

In early July, President Donald Trump called out Musk directly, tweeting that Tesla might “close up shop” in the absence of government subsidies. That jab, layered with policy shifts, sent a chill through Tesla bulls. Tesla’s Q2 results are in, and they’re not pretty.

That’s bad no matter how you look at it, but for Tesla, it might be the best way to explain the biggest problem facing both the company and its CEO, Elon Musk. Because, while Musk is trying to sell a story of the future, things aren’t great here in the present.