Tesla Inc (NASDAQ:TSLA) shares dropped 3.4% after hours, wiping $23 billion from its market value, following a major recall of over 27,000 cybertrucks.
The recall, Tesla’s fifth for the Cybertruck this year, addresses delayed rear-view camera images that could increase crash risks, affecting most of the vehicles delivered in 2024.
At the same time, the EV maker announced it is premarketing a $783 million debt deal backed by car leases, its second asset-backed securities (ABS) transaction of the year.
Overnight the stock was off $8.36 at $240.66.