Double Crash ⚡

Double Crash

To this day, Tesla has become one of the most influential companies in the world. With a visionary CEO Elon Musk, the innovative car company has flourished in the last few years, placing a spotlight on the electric vehicle industry. Unfortunately, multiple crashes occurred recently; one in a Tesla car, and one in the share price.

Tesla Autopilot has always been a dream of Elon Musk; in fact, he publicly expressed the idea in 2013. In true Musk fashion, Tesla started implementing the software into their cars and started testing, striving for a semi-autonomous driving experience. Critics have attacked the idea, saying that Tesla’s cars lack the hardware to successfully implement this. Like always, Tesla never gave up, and in October 2020, they released a beta version for a limited number of testers in the United States.

Unfortunately, Sunday night brought terrible news. A fatal crash occurred 30 miles north of Houston, in a 2019 Tesla Model S late in the night. 2 men, ages 59 and 69, were found dead, as the car went uncontrollably fast until it went off the road and crashed. Even worse for Tesla, authorities speculated that the car was on Autopilot mode as the men were sitting in the passenger seat and the rear seat. This hasn’t been the first casualty with Tesla’s Autopilot, but it sparked fresh outrage on the safety of the technology, especially after Musk released a report on Saturday touting its high levels of safety.

Tesla stock did not take the news too well; at its lowest on Monday, it was down approximately 5.32%, as investors feared an increase in regulation. Musk later responded by claiming that the car was never in Autopilot, but no further comments were made. For what Tesla dubbed “the future of driving”, yesterday’s news did not encourage anyone. However, fatal crashes like the one in Houston have happened already, and Tesla has continued to bounce back, leaving this news as a possible overreaction. What do you think? Is Tesla Autopilot in danger, or will Tesla be able to fix it? 

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:

More Posts

Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying, holding or investing in digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC.

The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community.The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results.Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such.Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.