The fallout from the Tesla Model S fire continues as the company's stock price has plummeted since the incident.

The fallout from the Tesla Model S fire continues as the company's stock price has plummeted since the incident.

The fire happened on October 1st when the company's stock closed at about $193 a share. However, the news spread quickly and caused panicked investors to pullout. By the time trading closed on Thursday, Tesla shares had dropped to $173.31 - a decline of roughly 11 percent. While that doesn't sound too bad, it effectively caused the company's market value to drop by a staggering $2.4 (€1.7 / £1.4) billion.

The news is even more shocking as the fire was caused by a "large metallic" object that struck one of the battery modules rather than a mechanical problem. Tesla spokesperson Elizabeth Jarvis-Shean contends the battery acted as designed and isolated the fire to a "small section in the front of the vehicle."

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