Tesla stock drops into bear territory amid reported SEC probe into solar panels

Tesla stock drops into bear territory amid reported SEC probe into solar panels

Tesla (TSLA) shares slid on Monday after Reuters reported a Securities and Exchange Commission (SEC) probe into the electric vehicle giant based on a whistle-blower complaint of solar panel defects. 

If the losses hold through today's session, Tesla shares will close in bear market territory, which is when a stock has declined 20% or more from its recent high. Tesla shares hit an all-time high of $1,229.91 on November 4th. The company hit $1 trillion in valuation for the first time ever on October 25th.

On Monday Tesla shares were trading below $1,000 each. The company's market cap fell to about $972.5 billion at one point.