High-flying billionaire Elon Musk's Tesla Motors has seen its shares skid the past couple days because they've been downgraded by analysts and showing one of the all-electric luxury cars engulfed in flames earlier this week.
Just before noon ET, a share of Tesla was trading around $169.50 鈥� down about 6.5 percent for the day and $25 (13 percent) below its 52-week high of $194.50.
The downgrade by analysts from Baird Research, who shifted Tesla shares from a rating of likely to "outperform" to one of "neutral," was there's already been "significant price appreciation" in the stock.
The news about Baird's new rating .
On Wednesday, gave wide exposure to the YouTube clip, which shows a Tesla Model S that burned the day before near Seattle. Seeing that video of a vehicle from the company that "the safest car in America," seemed to worry investors, .
Tesla spokeswoman Liz Jarvis-Shean "said the fire Tuesday was caused by a large metallic object that directly hit one of the battery pack's modules in the pricey Model S," . "The fire was contained to a small section at the front of the vehicle, she said, and no one was injured."
that firefighters "released more details [Wednesday night] on the fire, saying a battery pack at the front of the car was burning and adding water made the flames worse."
(Note: There are some expletives in the video, so we're rather than embedding it. We are a "family" blog, after all.)
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