tl;dr
Tesla (NASDAQ:TSLA) moved lower in early trading on Wednesday after Reuters reported that U.S. prosecutors are investigating if the company committed wire fraud or securities fraud with its claims about the self-driving capabilities of its vehicles. The investigation is in addition to the probe of a...
Tesla (NASDAQ:TSLA) moved lower in early trading on Wednesday after Reuters reported that U.S. prosecutors are investigating if the company committed wire fraud or securities fraud with its claims about the self-driving capabilities of its vehicles. The investigation is in addition to the probe of accidents involving the use of Autopilot. While Tesla (TSLA) has issued warnings to drivers to monitor Autopilot and recently renamed the package to "Supervised Full Self Driving," prosecutors are said to be looking into prior statements by the company and Elon Musk that may have misled consumers and investors into believing the cars drove themselves. Meanwhile, the National Highway Traffic Safety Administration issued a deadline to Tesla (TSLA) of July 1 to answer a series of questions related to the software recall of more than two million electric vehicles. The request included information about incidents in which subject vehicles experienced a crash in the United States with Autopilot engaged at any time during the period beginning 30 seconds immediately prior to the commencement of the crash, as well as specific information on all updates made to the Autopilot system. Shares of Tesla (TSLA) fell 3.76% in premarket trading to $171.12 vs. the 52-week range of $138.80 to $299.29.
More about Tesla Inc
Tesla Inc Analysis:
Tesla, Inc. is a prominent American electric vehicle and clean energy company headquartered in Palo Alto, California. The company's diverse product line includes electric cars, battery energy storage solutions, solar panels, solar roof tiles, and related services. In 2020, Tesla achieved significant milestones, leading in both plug-in and battery electric car sales with a 16% share in the plug-in market and a remarkable 23% share in the battery-electric market. Additionally, through its subsidiary Tesla Energy, the company emerged as a key developer and installer of solar photovoltaic energy systems in the U.S. Furthermore, Tesla Energy established itself as one of the leading global suppliers of battery energy storage systems, delivering 3 GWh of battery storage in 2020.
Financial Data:
- Sector: Manufacturing, Motor Vehicles & Passenger Car Bodies
- Market Cap: 567.07 billion
- Current Price: $45.48
- Dividend Yield: None
- Price/Earnings Ratio: 3.91
- Return on Equity: 29.8%
- Debt/Equity Ratio: 0.144
- Revenue: 94.74 billion
- Net Income: 179.34
- Earnings Per Share: -0.534
- Profit Margin: -0.087
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