Tesla stock has dropped more than 30% within a period of under 2 months 8 times across different years, erasing billions in market value in a single correction.

Tesla chief Elon Musk said in a call with investors on Wednesday that his team is “on the cusp of something really tremendous” with Optimus, the humanoid robot that it’s been working on since 2021.

The National Highway Traffic Safety Administration said on Friday it is seeking information from Tesla about a new driver assistance mode dubbed "Mad Max" that operates at higher speeds than other versions.

The National Highway Traffic Safety Administration is reportedly looking into Tesla’s new “Mad Max” driver-assistance mode over concerns that it allows vehicles to operate at higher speeds above posted speed limits, reports Reuters as billionaire Elon Musk’s car company continues to draw scrutiny.

The Elon Musk–led EV company is set to recall more than 13,000 cars built between March and August 2025 due to a battery issue that can cause a sudden loss in propulsion while driving. The National Highway Traffic Safety Administration (NHTSA) estimates that roughly one percent of those vehicles are affected.

Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply.

Tesla reported record third-quarter revenue that beat Wall Street estimates on Wednesday, driven by the highest quarterly sales of its electric vehicles as U.S. buyers rushed to lock in a key tax credit ahead of its expiry last month.

Tesla said Wednesday that its profit sank in the third quarter after it cut car prices to lift sales. Profit fell to $1.4 billion from $2.2 billion a year earlier, a drop of 37 percent, the company said. Sales rose to $28.1 billion from $25.2 billion.

We can’t rule out that at some point, he’ll decide to leave the automotive industry to refocus on humanoid robots, SpaceX, or artificial intelligence.”