From a 52-week high of $389.61, the shares plunged to just $252.48 on April 2, following word that Tesla had again missed production on the time-shifted Model 3.
In other Tesla news, VP Eric Branderiz sold 401 shares of the business's stock in a transaction dated Monday, February 26th.
The National Transportation Safety Board, which is looking into the fatal crash last month of an SUV using Tesla's Autopilot system, said it is removing the high-tech automaker from the probe for improperly disclosing details of the investigation.
Tesla Motors, Inc. (TSLA) has the market capitalization of $50.74 Billion. Or, an alternative way to read it, Tesla resigned from the investigation.
In a post to its website, Tesla said that this missing barrier contributed to worsening the impact of the crash in a blog post.
Board chairman Robert Sumwalt said: "It is unfortunate that Tesla, by its actions, did not abide by the party agreement". Releasing incomplete information often leads "to speculation and incorrect assumptions about the probable cause of a crash, which does a disservice to the investigative process and the traveling public", the agency said. "The family wants to investigate this incident and help ensure that this tragedy does not happen to other consumers who buy semi-autonomous vehicles". That is, if security is continuing higher in an uptrend, the amount of the protection should also increase and vice versa. The agency in 2014 revoked party status for United Parcel Service Inc. and a pilots union in the probe of a crash of one of the package-delivery company's cargo planes after public comments were made by each side about circumstances surrounding the accident.
And it's not a new problem.
While this clearly irked the NTSB, A.P. reports the NHTSA said it has no qualms with Tesla. "However, this release will not hinder our investigation".
It's not hard to see why an official investigation might be annoyed at premature disclosures like this one.
While rejected parts are fairly common in the auto industry, Tesla has already reported that it both produces and receives from suppliers a larger-than-average volume of defective or damaged components, or indeed components that need to be modified for various reasons. "I trust that you will confirm the accuracy of the relevant factual statements when asked tomorrow", Tesla said to NHTSA.
Tesla's Autopilot setting lets the car's sensors - including radars, ultrasonic detectors and LiDAR - control the vehicle's speed and movement between lanes. Failure to put hands back on the controls will eventually result in the vehicle bringing itself to a stop. It seems likely, particularly as the workforce that Tesla has hired matures and becomes more skilled. "People simply can't attend to when there is not much happening". Further, Tesla remains a party to the ongoing investigations of the August 25, 2017, crash of a Tesla Model X in Lake Forest, California, and the January 22, 2018, crash of a Tesla Model S near Culver City, California.
As Bloomberg notes, "The NTSB guards the integrity of its investigations closely, demanding that participants adhere to rules about what information they can release and their expected cooperation".