The US Justice Department is examining if Tesla permitted wire and securities fraud in their self driving claims.
The question is did they overstate their expectations for self driving? Was there an intent to defraud investor decisions from their overly optimistic claims?.
Shares of Tesla currently trade down $6.67 or -3.76% at $171.12.
Looking at the daily chart of Tesla, the high price that we saw last week start right at it 100 day moving average. Sellers leaned against that key technical target. The move lower in premarket trading has the price testing the gap from Friday, April 26 to Monday, April 29. The high praise on April 26 reached 172.12. The price is currently below that $171.12.
Tesla is moving lower after SEC probe
US major indices are also under pressure with the NASDAQ futures now down -103 points. The S&P index is down -21.45 points, in the Dow Industrial Average average futures are in point at the point of -69.26 points