Tesla Collapses To 12-Month Lows After NTSB Probes California Crash

Tesla shares were under pressure early on but news that The U.S. National Transportation Safety Board (NTSB) is sending two investigators to examine issues raised by a fatal Tesla car crash in California, has smashed the share to their lowest in a year...

As we detailed previously, while driving on Highway 101 near Mountain View, California, a Tesla Model X suffered a gruesome crash when the vehicle hit a carpool lane barrier, leading two more cars to crashing into it, and causing the lithium ion batteries powering the vehicle to ignite and explode, at which point the vehicle burst into flames.

Here are the details according to the Redwood City CHP.

Tesla

 

And now, as Bloomberg reports, the safety board will examine the post-crash fire and steps needed to make the vehicle safe to remove from an accident scene, the agency said in a tweet Tuesday. It’s unclear whether the Tesla’s partially autonomous driving system, known as Autopilot, was engaged at the time of the crash, the NTSB said.

As a reminder, the investigation is the second this year involving Tesla by the NTSB, which opens only a handful of highway cases each year. The agency is also examining a Jan. 22 accident in Los Angeles in which a Tesla Model S rammed into the rear of a fire truck parked on a freeway. In that case, the driver told authorities on the scene it was operating under Autopilot.

With bond yields at record highs, Tesla stock investors are rapidly pulling out with the shares now below $290...

This is the lowest level since Elon Musk taunted shorts...