Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Tesla's got bad news

The SEC is investigating Tesla Motors (NASDAQ:TSLA) for potential violations of securities law, according to The Wall Street Journal which quotes an unnamed source.

The probe is centered over the disclosure of an accident involving the Autopilot system. The automaker has maintained that the incident was a "non-material" event. More details to follow.

Bad news can be a burden for Tesla shares in short-term, and technical picture confirms that - the share price is about to head lower after reaching upper line of the wedge.