Top 4 Stocks About to Reach Their 52-Week High

A 52-week high is a technical indicator used by some of the world's top traders and investors to determine the current and future value of a stock. In this report we reveal today's top 4 stocks about to reach their 52-week highs.

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Tesla Recalls Over 3,800 Cybertrucks, Cites Unintended Acceleration Risk

Anan Ashraf
April 19, 2024

EV giant Tesla Inc (NASDAQ:TSLA) is recalling 3,878 Cybertruck vehicles over concerns of unintentional acceleration.

What Happened: The company said in a filing with the U.S. auto safety regulator National Highway Traffic Safety Administration that the accelerator pedal pad on the affected vehicles may dislodge and become trapped by the interior trim above the pedal, thereby causing it to accelerate without the driver intending to.

However, the vehicle will stop once the brake pedal is applied, the company explained.

As for a solution, the company said it would replace or repair the accelerator pedal assembly, free of charge to the customer.

Tesla said that it is not aware of any collisions or injuries relating to the pedal issue identified. The company is now equipping Cybertrucks in production with new accelerator pedals. Those vehicles in the process of delivery but yet to reach the customer will receive the remedy before it is handed over, it added.

Why It Matters: The recall likely impacts a whopping majority of the Cybertruck vehicles delivered by Tesla to date.

Though Tesla does not give model-wise delivery numbers, automotive research company Kelley Blue Book pegs the number of Cybertrucks delivered in the first quarter at just 2,803 units. The company started delivering the Cybertruck only on November 30.

Earlier this week, The Wall Street Journal reported that the company had briefly halted Cybertruck deliveries. The report also flagged potential issues with the pickup truck’s accelerator pedal.

However, Musk took to X on Wednesday to clarify that the move was precautionary.

“There were no injuries or accidents because of this. We are just being very cautious,” Musk wrote.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read More: No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned ‘Complex And Inefficient’

Photo via Shutterstock

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