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Tesla's Wild Ride Drives Shares Lower

NEW YORK (TheStreet) -- Tesla Motors (TSLA - Get Report) continues to sink as it appears that momentum investors are backing away from the electric car company amid concerns about fires, production delays and executive departures. Needless to say, it's been a whirlwind week at Tesla's Palo Alto headquarters.

With three fires in a few weeks for its Model S, Tesla asked the National Highway Traffic Administration (NHTSA) to open a probe into the two fires that have happened on American soil. Tesla is taking several actions to prove the safety of its Model S. Included are an "over-the-air update to the air suspension that will result in greater ground clearance at highway speeds." CEO Elon Musk noted this is about reducing the chances of underbody impact damage, not improving safety, as Musk, and others have repeatedly said the Model S is the safest car on the road. "Another software update expected in January will give the driver direct control of the air suspension ride height transitions," Musk said.

Just two days later, Consumer Reports gave the electric Model S the "highest owner-satisfaction score" the magazine has seen in years.

Then yesterday, reports surfaced that George Blankenship, Tesla's former chief of Worldwide Sales and Ownership Experience, abruptly retired earlier this month.

This one week chart pretty much sums it up.

TSLA ChartTSLA data by YCharts

This three month chart isn't any prettier.

TSLA ChartTSLA data by YCharts

--Written by Chris Ciaccia in New York

Must Read: PlayStation 4, Xbox One: The Out Of Stock Epic Battle

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