Musk: 37 of 40 Tesla Model S suspension complaints were fraudulent

After reports that Samsung batteries might supply Tesla’s electric vehicles, Musk tweeted that Panasonic, a longtime investor in the youngest publicly held USA automaker, will be the exclusive supplier of batteries to the upcoming Model 3 small auto, as it is for the Model S large sedan and Model X sport utility vehicle.

Tesla Motors Inc (TSLA) reported that it revised a nondisclosure clause in its consumer fix contracts following a US regulator took issue with the practice, while the electric carmaker’s chief executive separately called most consumer reports of suspension problems in its Model S sedan fraudulent.

Shares of Tesla Motors Inc (NASDAQ:TSLA) dropped -4.61% to $218.79 on Friday.

Moving toward the volatility measures, the price volatility of stock was 3.98% for a week and 2.90% for a month as well as price volatility’s Average True Range for 14 days was 7.57.

According to an earlier tweet by Musk, an NHTSA spokesperson has confirmed that the agency has not yet found any safety problems with the Model S’s suspension.

Musk has said that the company has received some 400,000 $1,000 refundable commitments for the Model 3, which is he says will ultimately lead to annual production volume of 500,000 a year for all three models, or about 10 times current annual production. Credit Suisse reiterated a “buy” rating and issued a $240.00 price objective on shares of Tesla Motors in a report on Wednesday, March 30th. Recently, company shares have been seen trading -23.21% off of the 52 week high and 56.06% away from the 52 week low. There are 4 equity research firms suggesting a Hold and 0 consider it Sell. Following the completion of the sale, the vice president now directly owns 11,329 shares in the company, valued at approximately $2,867,709.77. Analysts rating the company a 1 or 2 indicate a Buy recommendation. The stock price is moving up from its 20 days moving average with 0.02% and isolated negatively from 50 days moving average with -5.89%. However, 4 analysts recommended “HOLD RATING” for the company.