NEW YORK (TheStreet) -- Shares of Tesla Motors (TSLA) were flat at $244.52 in afternoon trading Wednesday after a report that the electric car maker plans to introduce new car passing capabilities into its Model S, according to the Wall Street Journal.
The Journal reports that the Silicon Valley company will soon install semiautonomous features into its newer Model S sedans that will include the capability to pass other cars without the need for any action by the driver. All the driver would have to do to activate the feature is hit the turn signal, people familiar with the technology told the Journal.
Hitting the turn signal would inform the car that it can pass, but it also makes clear that the driver has decided that the maneuver is safe.
Insight from TheStreet's Research Team
Dan Fitzpatrick commented on Tesla in a recent post on Real Money. Here's what he had to say about the stock:
Last week, Tesla reported earnings that lost less money than analysts had expected. This was considered a "beat on earnings across the board." The stock first traded higher after-hours; then it traded lower as traders gambled about what aspect of the report would come out next. The trading was so volatile that I wondered if someone's cat had jumped up on the trading desk and was playing with the keyboard. But ultimately, the stock ultimately gapped down to test the 20-day Moving Average on high volume and then shot back up 7% from the low, and 2.76% from the prior day's close.