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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
>> You will not be able to buy a better car for->> It's been a painful few days for Tesla investors. The stock plunging 15% so far this week, erasing $7 billion in market value. The steep fall coming on the back of a credit downgrade by Moody's. And a deadly car crash involving a Tesla Model X that caught the eye of federal investigators.
00:00:21
Here's what's known about the accident. The Tesla Model X crashed into a divider on a California highway Friday. The lithium battery powering the Model X burst into flames. And the 38 year old driver died shortly after the accident. Reuters correspondent Alexandria Sage.>> We don't know yet whether the Model X that was involved in the accident last week was on autopilot, which is Tesla's semi-autonomous driving program.
00:00:50
Obviously that's a big factor to know, whether the guy's hands were on the wheel or not.>> The Tesla crash coming after a week after a self-driving Uber killed a woman in Arizona.>> There is certainly much more scrutiny on this entire space after the Uber fatality. And companies are waiting to see if new regulations will be coming down.
00:01:15
>> The National Transportation Safety Board announced it is looking into the Tesla accident, the second NTSB probe of a Tesla crash since January. And follows other incidents involving either exploding batteries or the failure of autopilot to notice an object and stop. In a blog post Tuesday, Tesla maintained the safety of all its models, batteries, and technologies.
00:01:40
Tesla has another problem on its hands. It's burning through cash to produce its popular lower-priced Model 3. Fearing a looming cash crunch, Moody's/Tesla's debt rating has put the company on negative watch.