Tesla continues the sharp move lower. From Business Insider:
- Tesla CEO Elon Musk ordered his employees to stop putting nearly finished Model 3s through a critical test before leaving the company’s factory in Fremont, California, according to an internal document viewed by Business Insider.
- It’s called the brake and roll test, and it ensures the car is correctly aligned.
- An industry expert told Business Insider that every automaker does this test to ensure quality and function.
Tesla still attracts a lot of attention despite actually being a relatively boring stock over the past two years. The stock is falling below the 200 day average today, but note the big trading range that has been in place for a long time. Full BI article here.
Tesla implied volatility continues spiking.
Source: charts by Bloomberg