Tesla’s stock has taken a hit in recent weeks, but it’s not because of steering wheels. Barron’s reported that the reason for the drop in the electric car maker’s stock is likely due to a downgrade from an analyst.
Meanwhile, Yahoo Finance reported that Tesla is being investigated for Model Y steering wheels that may detach during use. This news comes as Tesla’s CEO, Elon Musk, apologized for delays in the production of the company’s new Cybertruck.
The Berkshire Eagle provided a summary of trending news at 9:41 a.m. EST, which included the Tesla investigation and stock retreat.
Investor’s Business Daily reported that after a strong run, an analyst has downgraded Tesla’s stock. This news is likely what caused the recent drop in the company’s stock.
Finally, the San Francisco Business Times reported on Wednesday that Musk had apologized for delays in the Cybertruck production, and that Tesla is being investigated over steering wheels that may detach during use.