Tesla shares taking a beating this week

Shares in electric carmaker Tesla continued to fall by 8 percent on Wednesday after the media reported that US authorities were looking into a fatal March 23 crash involving a Tesla vehicle.

Shares of the automaker had lost 8 percent in the previous day, according to Fortune.com.

The market value of Tesla dropped about USD 8 billion in the last two days to USD 43.9 billion, below that of General Motors (USD 49.4 billion).

“Due to the extensive damage caused by the collision, we have not yet been able to retrieve the vehicle’s logs,” Tesla said in a statement about the most recent crash. “We are currently working closely with the authorities to recover the logs from the computer inside the vehicle. Once that happens and the logs have been reviewed, we hope to have a better understanding of what happened.“

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