Tesla stock slides amid investigation into deadly crash

Tesla stock slides amid investigation into deadly crash

Tesla stock slides amid investigation into deadly crash

First Republic Investment Management Inc. boosted its position in shares of Tesla by 0.7% during the 3rd quarter. The report has prompted a federal field investigation by the U.S. National Transportation Safety Board.

As for Nvidia, its shares also fell by 8% on Tuesday, but it has recovered some of those losses on Wednesday, with the stock up 1.4% to US$228.968 shortly before the opening bell in NY.

The American electric-car company Tesla will be bankrupt within four months unless its CEO Elon Musk "pulls a rabbit out of his hat", according to hedge fund manager John Thompson. Washington state's sales tax exemption for electric vehicles is expected to end sometime this summer after efforts to extend the tax break stalled during the recent legislative session.

Elon Musk's Tesla has also been dogged by questions about the safety of its cars after USA regulators launched an investigation into a fatal crash involving one of its vehicles last Friday. NTSB said the issues being examined include the post-crash fire and removing the vehicle from the scene.

"Unclear if automated control system was active at the time of the crash", the agency said on Twitter.

Tesla said its battery packs are designed so that when a fire occurs, it spreads slowly so people have more time to exit the auto. The pedestrian died from the collision. However, it also said that data shows autopilot had been used some 85,000 on that stretch of road in California.

Tesla's bonds dropped 4.5 cents on the dollar to 86.5 cents at 12:02 p.m.in NY, according to Trace, the bond price reporting system of the Financial Industry Regulatory Authority after reaching their lowest price ever earlier Wednesday.

Tesla Inc
Tesla stock slides amid investigation into deadly crash

"What could be scary for Tesla is anything that would be indicative that demand is falling or might fall for their product and that there might be an end for investors' desire to buy more shares in the company". The company acknowledged that it hasn't seen "this level of damage to a Model X" in any previous accident.

Day traders strive to make money by exploiting minute price movements in individual assets (usually stocks, though currencies, futures, and options are traded as well), usually leveraging large amounts of capital to do so, therefore they trade on Stocks in Play. "It's going to be harder for them to raise money".

Ratings agency Moody's Investor Service, meanwhile, has downgraded the electric vehicle maker's credit rating to B3 from B2. The credit rater cited "the significant shortfall in the production rate of Tesla's Model 3" and liquidity pressures as two chief concerns.

Tesla Motors Inc (NASDAQ:TSLA) yearly performance is 3.32% and net profit margin is -16.70%. According to an article on the CNBC website, the accident led to the closure of every lane of the US Highway 101 in California, causing a huge traffic snarl-up.

That puts the company in "crunch time" now to improve margins, Cowen & Co. analysts led by Jeffrey Osborne said in a note Tuesday.

Bernstein analyst Max Warburton on Wednesday pointed to heavy reliance on automation at Tesla's Fremont plant as a key factor behind the troubled Model 3 production ramp-up.

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