$TSLA Needs To Put Out This Fire

tsla2

Another fire? The third fire was a breaking point, this fourth one? Well, the story is getting very old. We were the first to cover fire #3, by the way:

http://www.optionmillionaires.com/tsla-fire-update/

http://www.optionmillionaires.com/tsla-another-car-fire/

Here's the bottom line, at least in my opinion: investors will lose their patience yet again but this time likely won't return until the issue is officially addressed.

Tesla (NASDAQ: TSLA) is active in early trading Thursday following reports that a garage fire in California might have come as a result of an overheating charging station.

Reuters cites the Orange County Fire Authority in saying that either the Tesla-supplied charging system or the connection at the wall of the garage could have been the problem.

According to an official report on the matter, The most probable cause of this fire is a high resistance connection at the wall socket or the Universal Mobile Connector from the Tesla charging system, which was the part that was plugged into the wall.

The fire was said to have happened on November 15th at the University of California-Irvine campus. About $25,000 worth of damange was said to have happened. no one was injured, and the Tesla Model S sedan sustained only smoke damage.

Tesla commented on the report, saying, We looked into the incident ... We can say it absolutely was not the car, the battery or the charging electronics ... The cable was fine on the vehicle side. All the damage was on the wall side ... A review of the car's logs showed that the battery had been charging normally, and there were no fluctuations in temperature or malfunctions within the battery or the charge electronics.

Following reports of multiple Model S fires in October, investors might be up in arms at the latest report.

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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