Tesla Inc. (NASDAQ:TSLA) stock opened sharply lower on Monday after the company admitted that it sent a team to investigate a video that showed an
exploding Model S car.
Media reports that the video originated in Shanghai—set to be home to its first overseas factory. Its shares opened four points lower and continued to fall nearly 10 more points after that.
Company CEO Elon Musk is holding an investor event that will be livestreamed from the electric automaker’s headquarters in California.
Musk and the U.S. Securities and Exchange Commission have both asked a federal judge for
more time to negotiate a settlement over its move to hold him in contempt of court over his recent posts on Twitter.