Regulator Ends Tesla Phantom Braking Probe, Citing Low Risk & Fewer Complaints
TSLA sits 48% above its 52-week low of $288.77.
Summary
The National Highway Traffic Safety Administration (NHTSA) has closed its investigation into Tesla's phantom braking issues. The regulator found a low safety risk with no crashes tied to the problem, noting that complaints have dropped sharply following software updates. This resolution removes a significant regulatory overhang for Tesla, validating its efforts to address the issue and its shift to a vision-only sensing system.
At the time of this announcement, TSLA was trading at $427.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.6T. The 52-week trading range was $288.77 to $498.83. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.