Total Recall: FSD Saga To Crash TSLA?

Bad News 01

Tesla Inc. said it would recall 362,000 U.S. vehicles to update its Full Self-Driving (FSD) Beta software after U.S. regulators said on Thursday the driver assistance system did not adequately adhere to traffic safety laws and could cause crashes.

The National Highway Traffic Safety Administration (NHTSA) said that Tesla's full self-driving software package "may allow the vehicle to act unsafe around intersections," adding that the system "may respond insufficiently to changes in posted speed limits or not adequately account for the driver's adjustment of the vehicle's speed to exceed posted speed limits."

Tesla in response is voluntarily recalling the vehicles, with plans for an over-the-air software fix. The vehicles affected include 2016-2023 Model S and Model X, 2017-2023 Model 3, and 2020-2023 Model Y vehicles equipped with the Full-Self Driving beta.

Look! No hands!!!

Bad News 02

Tesla Inc. workers at a Buffalo, N.Y. factory said the company terminated more than 30 employees this week after they announced their intention to form what would be the company's first U.S. union.

In a filing to the National Labor Relations Board, Tesla workers said the firings in the plant's Autopilot department were in retaliation for the union organizing drive. More than two dozen employees sent a letter to the electric-care maker's management Tuesday stating their intention to form a union and calling on the company to affirm that workers wouldn't face negative repercussions.

Many organizing-committee members are hourly employees who manually review images to refine Tesla's advanced-driver assistance technology, known as Autopilot.

Tesla employees say they are seeking to form a union to address health and safety conditions on the job, wages and benefits and other issues.

Tesla employs about 2,000 people at its Buffalo factory, of whom around 800 work in the Autopilot unit. Tesla's global workers totaled around 128,000 as of year-end, according to a securities filing.

Tesla, unlike many other car makers in the U.S., doesn't have a unionized American workforce. Years ago, Tesla violated U.S. labor law by taking steps to hamper a separate organizing effort in Fremont, Calif., the National Labor

Relations Board ruled. The board ordered Mr. Musk to delete a tweet that discouraged unionization, among other remedies. The EV maker appealed the board's decision.

Go with the flow

Bad News 03

Tesla stock fell 5.7% to 201.97 in Thursday's market trading. On Wednesday, shares had advanced 2.4%. Tesla stock has more than doubled from its Jan. 6 bear market low of 101.81. It dipped to 196.74 at its lowest during after hours.

The bearish momentum may continue below 196.7 and calls can be considered above the 200 pivot point again.

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