Tesla is sliding after getting downgraded at Moody's

Tesla is sliding after getting downgraded at Moody's

Tesla is sliding after getting downgraded at Moody's

A representative for Tesla declined to comment. "We have never seen this level of damage to a Model X in any other crash", the company wrote.

A federal probe into the incident, in which a woman was killed whilst walking her bike across the street, is now underway and Arizona officials said Monday that Uber would be banned from future tests until the investigation is concluded. "Safety is at the core of everything we do and every decision we make, so the loss of a life in an accident involving a Tesla vehicle is hard for all of us". NTSB said the issues being examined included the post-crash fire and removing the vehicle from the scene.

Tesla shares are sliding Wednesday, down 8.12%, after the electric-car maker was downgraded by Moody's.

Tesla shares plunged another 9 percent to $253.79 in midday trading on Wednesday.

Tesla is sliding after getting downgraded at Moody's
Tesla is sliding after getting downgraded at Moody's

The Tesla Model X struck a barrier, flipped into ongoing traffic and was hit by two oncoming vehicles, the California Highway Patrol said on Friday.

Tesla Inc. said it doesn't yet know what caused the crash involving its Model X auto in California on Friday, an accident that killed the driver and added to the pressures mounting on Elon Musk's company. Tesla believes it was either removed or crushed in a prior crash without being replaced.

Vilas Capital's Thompson wrote a note to investors this week forecasting Tesla to crash within three to six months as it combats Model 3 delivery setbacks and waning demand for its higher-end Model S and X cars, as reported in a Fortune story on March 27.

"2 NTSB investigators conducting Field Investigation for fatal March 23, 2018, crash of a Tesla near Mountain View, CA".

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Tesla has shared some details about the crash in a blog post. The pedestrian died from the collision.

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"As a reality check, Tesla is worth twice as much as Ford [estimate of the enterprise value of both companies], yet Ford made six million cars a year ago at a $7.6 billion profit, while Tesla made 100,000 cars at a $2 billion loss", Thompson said.

It's been a brutal month for Tesla: Analysts are anxious about delays shipping its new Model 3, and say it will soon face a cash crunch. While the company has said it expects to end the quarter making 2,500 Model 3s per week, analysts are skeptical.

French strikes over Macron reforms turn ugly
Those cancellations come ahead of a separate strike by Air France pilots and cabin crew Friday seeking a six-percent raise. Macron has stayed sanguine through criticism over his reforms, insisting he was elected on a mandate to shake France up.

The Investor Service has a Negative outlook on Tesla, down from a Stable one previously.

Tesla wasn't able to retrieve the data logs due to the severity of the crash, but it now nonetheless elaborates on the potential cause of the crash with first details released since the accident.

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.

Amid all the negative sentiment surrounding Tesla stock right now, the Morgan Stanley analyst sees "one of the buying opportunities that many investors have been waiting for".

The first Winter Storm Warning of Spring, 2018
Strong winds will accompany the storm across all affected areas and could make travel hard , the Weather Service warned. Snowfall rates could reach 1 to 3 inches per hour from Philadelphia to New York City Wednesday afternoon and evening.

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