Oct 3 - Shares of Tesla are down more than 10 percent following a YouTube video showing a Tesla Model S in flames off a Washington State highway. Conway G. Gittens reports.
Nothing like a fire to throw water on a red hot stock. This YouTube video showing a Tesla Model S electric car ablaze is causing some investor concern. The stock is down at least 10 percent since the video first surfaced on a blog called Jalopnik. Tesla has verified the car as a model S. The hard-fought fire calls into question the safety of the emerging electric car industry, which uses lithium-ion batteries. And is the first piece of bad publicity for the Model S since receiving a rare 5-star safety rating from the National Highway Traffic Safety Administration back in August. Successful sales numbers have helped power Tesla shares to a more than 400 percent rally since the start of the year.