Tesla Motors (TSLA) announced a voluntary safety recall of 439 Roadsters (2, 2.5) due to a potential fire hazard involving a low voltage auxiliary cable. The company decided to issue the recall after the cable in a single vehicle rubbed against the edge of a carbon fiber panel, shorting out and smoking. The fix is a simple placement of a protective sleeve over the cable.
Shares aren’t moving on the news and are actually trading up today. The stock continues to trade in a fairly tight range and is holding up above key support of the 50 day moving average.