Tesla Shares Slow as Peers Push Forward Their Own Self-Driving Cars
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The market euphoria triggered Monday by Tesla Inc. CEO Elon Musk’s weekend settlement with the Securities and Exchange Commission is quickly fading.
After a sharp 17 percent gain following news that Musk will stay on as CEO at Tesla while relinquishing the chairman’s role, shares of the electric carmaker have fallen nearly 10 percent in three sessions. They’re down as much as 5.8 percent today, and the strides made by traditional automakers this week in the race to develop self-driving cars probably isn’t helping investor sentiment.