Safety matters a lot in the automotive market. Recalls and safety investigations, paradoxically, don’t matter that much.
Investors may not be able to tell that by looking at stocks.
tesla
(ticker: TSLA) shares fell 3.7% in midday trading on Wednesday, the same day the National Highway Traffic Safety Administration opened an investigation into potentially dislodged steering wheels. He
S&P 500
fell 0.2% and the
Nasdaq Composite
it was flat.