TSLA is trading 3.9% down at $426.15, pressured by specific negative headlines in addition to broader market weakness.
- An Australian federal judge warned Tesla it could face “a really bad time” due to its lack of cooperation in a class-action lawsuit alleging the company overstated self-driving capabilities and battery range.
- The legal pressure adds to recent reports of operational issues with Tesla's robotaxi test rides in Texas, where users experienced long wait times, ride unavailability, and navigation difficulties, fueling concerns about the scalability of the service.
- The decline is amplified by a risk-off sentiment in the broader market, with rising Treasury yields and inflation fears prompting a rotation out of high-growth technology stocks.