Why Tesla Shares Dropped Thursday
Tesla's (NASDAQ: TSLA) AI Day comes at an interesting time for the company. The livestreamed event will be held at 8 p.m. EDT (5 p.m. PDT) today. It comes shortly after the National Highway Traffic Safety Administration (NHTSA) announced an investigation into the electric vehicle maker's self-driving technology after several vehicle crashes. Leading up to the presentation, and after another report today detailed customer frustrations with delivery delays, Tesla stock traded down 2.3% early Thursday. Shares modified that decline, but still were down 1.84% as of 10:50 a.m. EDT.
In the wake of the NHTSA probe, two U.S. senators are also now asking the Federal Trade Commission to investigate whether Tesla has properly represented the capabilities of its Autopilot and Full Self-Driving technology, reports CNBC.
Tesla Model Y. Image source: Tesla.
Source Fool.com
