Tesla Falls Midday as Communications Chief Steps Down
For a company that doesn’t rely on traditional advertising and yet is often in the news, Tesla (NASDAQ:TSLA) losing its senior director of communications has caused some concern among investors on Thursday.
The electric car maker was down 1.2% in midday trading amid a flurry of news, including the resignation of Dave Arnold, who has been at the company for two years.
Reports that its biggest investor, T. Rowe Price, sold most of its shares in the electric vehicle maker during the first quarter also weighed on investors.
Meanwhile, Tesla announced on Thursday that it plans to update its battery software after two incidents of car fires involving its Model S in China. Investigations into the incidents are ongoing.