Tesla says cause of fatal crash not yet known without car's logs

2014 Nissan Leaf Bear Mountain May 2014

2014 Nissan Leaf Bear Mountain May 2014

Follow Tesla shares in real time. We have never seen this level of damage to a Model X in any other crash.

As for the severity of the crash, the company pointed to a highway safety barrier that was modified. NTSB said the issues being examined included the post-crash fire and removing the vehicle from the scene. Local reports indicated that the road was closed for six hours after the crash because the local fire brigade was unsure if the car's battery would explode.

Friday's fatal Tesla crash came the same week a collision involving an autonomous Uber vehicle in Arizona killed a pedestrian and caused that company to halt its self-driving auto program.

Shares of Tesla, Inc., (NASDAQ: TSLA) exhibits a change of -8.22% to $279.18 on Tuesday. Until Tesla is able to safely get those logs from the Model X, it won't be able to understand what happened in the minutes leading up to the crash.

A safety barrier that protects vehicles from a concrete lane divider on Highway 101 at the carpool flyover to Highway 85 was missing at the time of Friday's fatal crash involving a Tesla Model X, the company claimed Tuesday in a blog post.

The company also said the accident was made worse because a highway safety barrier which is created to reduce the impact of hitting a concrete lane divider, had either been removed or crushed in a prior accident without being replaced.

The company argued that many Teslas on Autopilot mode have driven the same stretch of the highway where the accident occurred tens of thousands of times and nothing wrong happened.

Reuters said government scrutiny of the Palo Alto, California company is mounting - this is the second NTSB field investigation into a Tesla crash since January.

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Although he did mention the investigation of last week's Tesla crash, Jonas feels investors are still mostly focused on the Model 3 ramp. The pedestrian died from the collision.

The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. It said in a statement Tuesday that it was deeply saddened by the crash and is cooperating with authorities. The company also offers electric vehicle powertrain systems and components to other auto makers; and electric vehicles services through its own service centers, Tesla mobile technicians and Service Plus locations.

Moody's said its negative outlook "reflects the likelihood that Tesla will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall".

It's been a brutal month for Tesla: Analysts are anxious about delays shipping its new Model 3, and say it will soon face a cash crunch.

"We believe the market may be underpricing the potential significance of the Model 3 production release, which we expect in early April", Shawn Quigg, an equity derivatives strategist at JPMorgan, said in a recent note to clients.

In August, they lined up for the chance to finance Tesla Inc.'s ambitious rollout of its Model 3 sedan.

Sell side analysts plays vital role in buying and selling a stock where 1 analysts rated Tesla Motors, Inc.

Amid all the negative sentiment surrounding Tesla stock right now, the Morgan Stanley analyst sees "one of the buying opportunities that many investors have been waiting for".

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