Tesla is being investigated by California on autopilot safety issues
Sjoerd van der Wal
Tesla (NASDAQ:TSLA) is being investigated by the California attorney generalâs office for autopilot safety issues and false advertising complaints, according to CNBC.
The owner of a 2018 Tesla Model 3, George Wester, filed a complaint with the Federal Trade Commission in August, regarding âphantom brakingâ â sudden, automatic braking by a car for no apparent reason â that he would experience when using the companyâs driver assistance systems, or autopilot, on the highway.
The customer also said he felt misled by the automaker after paying thousands of dollars for the companyâs premium driver assistance option. Phantom braking is an issue that Tesla customers have complained about to federal agencies for years, CNBC said.
TSLA is down 1.5% over the past 12 months and up 65% in the past six months.
Shares of billionaire Elon Musk's EV maker fell last week after it reported squeezed margins on lower prices for the most recent quarter. Gross margins came in at 18.2% in Q2 vs. 25% a year earlier.
During the earnings call last week, Elon Musk stated the electric vehicle maker will cut prices again if economic conditions worsen.
Tesla's (TSLA) EPS has been revised lower 16 times in the past 90 days and upwards six times.
The stock has 11 Strong Buys from Wall Street analysts, three Buys, 19 Holds, four Sells and two Strong Sells.
More on Tesla:

Tesla: The Future Leader In Autonomy And AI
Tesla Q2 Earnings: It's About Margins
Tesla slips after UBS downshifts to a Neutral rating on the EV stock