May 17, 2019 - Energy & Environment

Tesla stock dives following fatal crash report

Close-up photo of Tesla logo on a red car.

A logo of Tesla car. Photo: Artur Widak/NurPhoto via Getty Images

Tesla's stock price dropped nearly 8% to $211 at market close on Friday, its lowest point since December 2016, after an investigation found the electric auto maker's Autopilot tech had been engaged during a recent fatal crash.

Why it matters: The preliminary report from the National Transportation Safety Board came out amid a warning to employees from CEO Elon Musk that the $2 billion Tesla just raised would only last 10 months unless Tesla significantly reduces its spending.

Go deeper: Read the full email from Musk to employees.

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