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Monday, April 22, 2019

What's moving markets today

This is shaping up to be a very big week for Tesla (TSLA).

The company is likely to face tough questions from investors and customers after one of its vehicles appeared to explode in China.

A short video circulating on social media shows white smoke emerging from what looks like a white Tesla car parked in Shanghai. After a few seconds, the vehicle bursts into flames.

We immediately sent a team on-site and we're supporting local authorities to establish the facts. From what we know now, no one was harmed," a Tesla spokesperson told CNN Business.

On Monday, the electric carmaker will hold its investor day.

On Wednesday, it will report earnings. It's expected to reveal a major loss.

Tesla said last Friday that four directors will leave the company — shrinking the size of its board to seven. One departing board member, Steve Jurvetson, is considered a close ally of CEO Elon Musk.

The stock is down more than 2% in premarket trading.

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from CNN.com - RSS Channel https://cnn.it/2Xy3fB6

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