The Tesla saga continues.
Though the electric automaker has beaten an investigation overseas, the U.S.-based probe continues. And, hopefully, it will bear more fruit as to why Tesla's products keep catching on fire for no apparent reason.
The latest incident happened in Toronto after an owner returned from a drive. It was not plugged in to recharge.
Given the background noise, it's been remarkable to see shares of TSLA hit record highs this week at $201.88 a share. It almost seems like a perfect set up for bad news from Toronto and negative results from the National Highway Traffic Safety Administration's (NHTSA) investigation, which would almost undoubtedly yield a painful correction.
Buckle your seatbelts Tesla shareholders, this ride could get bumpy. In all honesty though if you've ridden the shares up you've got a bit of "wiggle room" for shares to come down.
That said, do YOU think shares will be negatively impacted by the latest fire reported in Canada? Weigh in below!
**AutoSpies.com recommends you consult a licensed financial professional before making investment decisions.
The fire happened in a Toronto garage this month shortly after the car’s owner returned from a drive, and the vehicle wasn’t plugged in to recharge when it occurred, the Business Insider website said yesterday. “After a few moments, the owner’s fire detector went off and the fire department was called,” Business Insider said, without providing details.
Tesla is reviewing the fire and hasn’t determined how it began, said Liz Jarvis-Shean, a spokeswoman for the Palo Alto, California-based carmaker.
“The Model S continues to have the best safety track record of any vehicle in the world,” Tesla said in a statement. “In this particular case, we don’t yet know the precise cause, but have definitively determined that it did not originate in the battery, the charging system, the adapter or the electrical receptacle, as these components were untouched by the fire.”