Tesla Motors’ stock price on Tuesday dropped more than 11 percent following Consumer Reports‘ withdrawal of its favorable recommendation for the company’s Model S sedan. Poor reliability contributed to the decision to withdraw its recommendation, but the magazine noted that 97 percent of Tesla owners surveyed said they would buy a car from the company again despite the problems. Tesla began trading Tuesday at $227.72 but fell to $202 per share during the day. In early trading Wednesday, the stock was hovering around $212 a share.
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Tesla Stock Plummets After Consumer Reports Do-Over
Posted by: John P. Mello Jr. October 21, 2015 10:42 AMTesla Motors’ stock price on Tuesday dropped more than 11 percent following Consumer Reports‘ withdrawal of its favorable recommendation for the company’s Model S sedan. Poor reliability contributed to the decision to withdraw its recommendation, but the magazine noted that 97 percent of Tesla owners surveyed said they would buy a car from the company again despite the problems. Tesla began trading Tuesday at $227.72 but fell to $202 per share during the day. In early trading Wednesday, the stock was hovering around $212 a share.