Tesla is a HOT car.....Ask National Highway Traffic Safety Administration
Now that government employees are again allowed to work....it is time to investigate the Tesla fire. According to Bloomberg, a NHTSA administrator maintained early in the day that the agency is gathering data on the Tesla accident and may open a full investigation. I am not sure the government protection of this company will last. Even though the White House is desperate to have one electric comany suceed most people still remember the regulators’ probe of a fire in General Motors’s (NYSE:GM) Chevrolet Volt, which led to congressional hearings, and they’re already proceeding with caution.
It is not yet clear when the NHTSA will release its ruling on the Tesla fire, but considering that the probe is already three weeks after the fact, it’s likely to be soon. And it is likely to not be good for a very overpriced stock. The government supplementiong of TESLA through the selling of government credits, is not fair and must be stopped.