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Dogecoin

Tesla Falls On Double Blows Of Vehicle Recall, SEC’s Criticism By Investing.com

by Miki 06/02/2021
by Miki 06/02/2021 0 comment
Investing – Tesla (NASDAQ:) shares fell more than 3% Wednesday, bearing the brunt of two adverse developments.

First was its recall of nearly 6,000 vehicles over concerns that their brake caliper bolts might loosen, which could result in a loss of tire pressure.

The recall covers certain 2019 to 2021 Model 3 vehicles and 2020 to 2021 Model Y vehicles, Reuters said.

Tesla’s filing with the National Highway Traffic Safety Administration said it had no reports of crashes or injuries related to the issue and that the company will inspect and tighten, or replace, the caliper bolts as necessary.

In the other development, according to a report by The Wall Street Journal, the SEC told off Tesla for CEO Elon Musk’s “use of Twitter.” The agency said Musk’s tweets have violated the terms of the settlement agreement that required Musk to get his tweets preapproved by company lawyers.

Musk is prolific with his tweets and has more than 56.3 million followers on the social media platform. His Twitter posts can wildly move prices of tradeable assets, from those of cryptocurrencies like () and Dogecoin to listed companies like Samsung (KS:) Publishing (KS:).

The battle with the SEC dates to 2018, when Musk would often comment on the Tesla share price, causing wild fluctuations. In a settlement reached with the regulator, Musk stepped down as the carmaker’s chairman and was replaced by incumbent Robyn M. Denholm.

But the compulsive tweeter in Musk remained undeterred. It may not entirely be Musk’s doing that people look out for his tweets to place their bets on asset prices and look for directions on various topics but given that he has a disproportionate influence on his social media followers, SEC stepped in again.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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The New Jersey Crypto News
  • Home
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    • Bitcoin
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    • All Alt Coin
  • Learn
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      How to Trade Futures Contracts on Changelly PRO

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      11/12/2021

      Learn

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  • Analysis
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      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

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      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

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