Technical problems affected Tesla shares
Since the beginning of 2020, Tesla’s capitalization has doubled. Probably everyone who is interested in the automotive industry saw the presentation of the new Tesla CyberTruck model.
Despite all the memes that flooded the network, joking about design and practicality, the number of pre-orders reached almost 150 thousand in just 2 days, and after a short time they crossed the mark of 250 thousand.
Elon Musk kindly provided this data on his Twitter, it was ridiculous to observe the reaction of BMW, on the 18th of December the company decided to announce the numbers of electrified models being sold. The numbers presented on Twitter went from 499,821 and stopped at 500,000 cars.
One of the reasons for this “popularity” of CyberTruck is the extremely low cost of pre-order (only $100), for comparison, the price for pre-order Tesla Model S was $1000. The client has the right at any time to refuse the pre-order, having received his money back. What a disappointment for the haters of Tesla was to observe its rapid growth, after a statement of imminent bankruptcy in May 2019.
Elon Musk, probably, has a tradition every year to talk about the imminent bankruptcy of the company. This year we heard a particularly loud statement from him:
“… and if until that moment the company managed to keep the bar, then now things are really not going very well…”.
But what do we see now? 23rd place in the Forbes list with a capitalization of almost $ 39 billion. Do not forget that Musk owns not only about 22% of Tesla, being the largest shareholder, but also almost half of SpaceX.
Now a little more about the main topic of our article. 15 thousand Tesla Model X cars were found unsafe due to the corrosion of aluminum bolts that were used to upgrade the power steering component. As Tesla says:
“However, we have observed excessive corrosion on the bolts that attach this component to the steering gear in affected Model X vehicles. This corrosion has been observed primarily in very cold climates that use calcium or magnesium road salts rather than sodium chloride (table salt)…”.
However, this time the problem is less significant than in 2018, when 120,000 Model S cars were recalled due to a similar power steering problem. It is worth noting that after the close of trading on Wednesday. As a result Tesla shares fell 2%, overall the trading day ended in around $ 767.29 with a decline of 0.9%.
