Both Ford and Tesla are recalling vehicles due to safety hazards
Ford Motor Company (NYSE:F) and Tesla Inc (NASDAQ:TSLA) are drawing negative attention, as both companies recall thousands of vehicles. Ford called back 634,000 SUVs worldwide due to fire risks, while Tesla is recalling over 80,000 China-made cars for software and seat belt issues.
The spotlight has already been on Tesla in recent months, amid Elon Musk’s Twitter takeover, making it a tough time for increased negative sentiment, though Citigroup praised the stock earlier this week. TSLA is inching 0.5% higher at $184.13 at last glance, eyeing a third-straight day of gains since its annual low of $166.18.
Ford stock is seeing muted price action as well, up 0.2% at $14.06 at last glance. Options bears are eyeing the stock after the news, however, with 79,000 puts exchanged so far today, which is double the intraday average. The December 14 put is the most popular, with new positions opening at the weekly 12/2 14-strike put.
Image and article originally from www.schaeffersresearch.com. Read the original article here.