Sep 18, 2018

Tesla shares fall after another dose of bad news

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Data: FactSet; Chart: Harry Stevens/Axios

Tesla shares closed down more than 3% after making up significant ground, following reports that the Justice Department is investigating Tesla and CEO Elon Musk's "funding secured" head fake.

Why it matters: Today's stock moves were not as bad as some feared, especially since shares of Tesla are down about 20% since the fateful August tweet. Tie in Musk's other troubles (including an SEC civil inquiry and a suit from a Thai cave diver), and the stock's volatility is far from over.

The other side: Some bulls are still hanging on. Ben Kallo, an analyst at Baird, reiterated his bull stance on Tesla following Tuesday's news of the criminal probe. In a research note, Kallo said Musk could be liable for any potential fines, not necessarily Tesla, and the company's "fundamentals are strong."

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Teenager killed after shots fired at protesters in Detroit

Detroit police during protests on Friday night. Photo: Matthew Hatcher/Getty Images

A 19-year-old man was killed on Friday night after shots were fired into a crowd of demonstrators in downtown Detroit who were protesting the death of George Floyd in Minneapolis police custody, per AP.

Details: The teenager was injured when shots were fired from an SUV about 11:30 p.m. and later died in hospital, reports MDN reports, which noted police were still looking for a suspect. Police said officers were not involved in the shooting, according to AP.

Go deeper: In photos: Protesters clash with police nationwide over George Floyd

Updated 4 hours ago - Politics & Policy

In photos: Protesters clash with police nationwide over George Floyd

Police officers grapple with protesters in Atlanta. Photo: Elijah Nouvelage/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd spread nationwide on Friday evening.

The big picture: Police responded in force in cities ranging from Atlanta to Des Moines, Houston to Detroit, Milwaukee to D.C. and Denver to Louisville. In Los Angeles, police declared a stretch of downtown off limits, with Oakland issuing a similar warning.

Updated 4 hours ago - Politics & Policy

Supreme Court sides with California on coronavirus worship service rules

The Supreme Court has ruled 5-4, with Chief Justice John Roberts joining the court's liberal justices, to reject a challenge to California's pandemic restrictions on worship services.

Why it matters: This is a setback for those seeking to speed the reopening of houses of worship, including President Trump.