But Stock Price Soon Resumes Upward Drive.
Tesla’s charmed life on the stock market may be over, but in the real world its prospects still appear to be positive.
One of its new S model batteries caught fire and its death throes were caught on video, which naturally went viral.
Headlines in the media were not good for Tesla’s image. “Tesla’s Stock May Have Finally Hit A Wall”, said the Wall Street Journal.
The stock dived, recovered and is now pointing higher again, although a bit below the highs notched up earlier.
Deutsche Bank isn’t unduly worried.
“A fire was bound to happen; doesn’t change the thesis,” A Deutsche Bank report said, as sales of the Model S are set to start in big European markets.
“Given significant Roadster and Model S experience – 6 years and tens of millions of miles driven – without a fire, we have confidence that this is an isolated incident that could happen to any vehicle,” Deutsche Bank said.
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