Tesla (NASDAQ:TSLA) stock is in the news Friday as investors react to the electric vehicle company (EV) recalling 30,000 Model X units.
The recall of these EVs has to do with an airbag problem. The issue comes from low-speed collisions, which could result in the airbag not deploying properly on the passenger side. This could happen if a young passenger is not belted in, or is out of position.
While this requires Tesla to issue a recall on the 30,000 EVs, it’s worth noting that owners won’t have to take them in for service. Instead, an over-the-air update will be sent out to affected vehicles to fix the issue.
To go along with that, it seems the likelihood of the airbag problem taking place is small. According to Tesla, it’s not aware of any crashes, injuries, or deaths related to the airbag issue, Reuters notes.
Today’s TSLA Stock Movement
Shares of Tesla stock aren’t seeing the strongest trading today. As of this writing, more than 45 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 74 million shares.
TSLA stock is down 3.1% as of Friday afternoon. The company’s shares are also down 55.6% since the start of the year.
Investors looking for all of the latest stock market news today are in the right place!
InvestorPlace offers up all of the most recent stock market coverage traders need to know about on Friday! A few examples include what’s happening with shares of Mullen Automotive (NASDAQ:MULN) stock, General Motors (NYSE:GM) stock, and Provention Bio (NASDAQ:PRVB) stock today. You can find out more on these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.