Tesla Enters The Slow Lane

Tesla plc (TSLA) - Get Report  shares appeared set for further declines Thursday, July 5, after its Model S didn't get a top rating from Insurance Institute for Highway Safety.

Tesla was marked to open down for the fourth straight session. Shares were down 2.15% in premarket trading Thursday. They closed at $327.09 Wednesday, after losing more than 7% throughout the trading session.

The IIHS cited issues with the small overlap front test, which is meant to simulate crashes into trees, poles and other vehicles, as why the Model S did not receive the highest rating. IIHS Executive Vice President David Zuby said the front test remains a "hurdle" for some vehicles.

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