Tesla Shares Rise Even As Door Lock Lawsuit Details Emerge

Benzinga

Tesla shares jumped over 7% even as a new lawsuit alleged that jammed Model 3 door handles trapped passengers during a fatal 2023 crash. The company is also facing scrutiny in New York after shifting its Dojo supercomputer plans to Cortex work in Austin. Analysts maintain a Hold consensus on TSLA with an average target that implies downside risk.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Tesla shares rose more than 7% money as investors bought the stock,

00:06even as a new lawsuit detailed a fatal 2023 Model 3 crash,

00:10in which the car door handles allegedly jammed after impact, providing escape.

00:14Two passengers were trapped after their vehicle suddenly accelerated into an utility pole

00:17and caught fire, leaving one seriously injured and the other dead.

00:21Their suit claims Tesla new crashes could disable door mechanisms,

00:24despite having a secondary battery system for interior functions.

00:28Tesla's New York factory plans are under pressure

00:30after the company dropped its Dojo Supercognition project

00:33in favor of Cortex Work Center in Austin, raising questions from state officials.

00:38Analysts hold a hold consensus on the stock from 14 buys, 10 holds, and 10 sells in the past three months.

00:44The average $383.37 price target implies 8.49% downside.

00:50For all things money, visit Benzinga.com.

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