Finance

Elon Musk Tokes and Tesla Stock Tumbles

Elon Musk Tokes and Tesla Stock Tumbles

(TSLA.O) has reached a fever pitch, with the news that two senior executives are leaving Elon Musk's electric-car maker emerging hours after he smoked marijuana during a podcast interview streamed live online.

In a Friday morning SEC filing, Tesla revealed that Chief Accounting Officer Dave Morton is resigning less than a month after taking the job, citing the company's fast pace and "the level of public attention" on the company. He added that he still believed in Tesla, that "I have no disagreements with Tesla's leadership or its financial reporting".

In addition, Bloomberg News reported that Tesla's head of human resources, Gaby Toledano, would not be returning from a leave of absence.

Shares of electric auto maker Tesla Inc. tumbled over 9 percent as the markets opened Friday, Sept. 7, after the CEO smoked marijuana during a YouTube video podcast and the company’s accounting chief left after a month on the job. After Rogan confirmed that the product was indeed legal to consume in California, Musk reached for the blunt and took a puff.

Elon Musk smokes marijuana during a podcast interview with Joe Rogan.

Jerome Guillen, an eight-year veteran of the company, will now oversee all automotive operations, program management, and the company's automotive supply chain, and report directly to Musk.

Shockingly this was nearly a complete blindside to the board of directors at Tesla and just two weeks after that tweet Musk recanted and did his best to explain why he had claimed he had funding "secured".

Some observers have said Tesla could be helped with a strong number-two executive, but Friday's departures create additional gaps in Tesla's ranks.

Musk has come under heavy pressure in recent weeks over his botched attempt to take Tesla private and his erratic behavior.

Since Mr Musk announced his plan to delist Tesla, its share price has dropped by 20%.

Elon Musk has added another bit of freakish behaviour to the list by smoking a joint during a live interview.

The attention intensified overnight after his interview with Rogan, where the repartee included an exchange over what Musk was smoking. Joe randomly produced a cigarette containing tobacco and marijuana in the middle of the show and lit it, sharing it with Musk, who innocently asked, "Is that a joint?"

"Weed is not helpful for productivity".

Just another installment in the extraordinary saga of Elon Musk, the billionaire leader of two major companies that are trying to change the world.

Daniel Sparks owns shares of Tesla.

Earlier this week, he escalated his attacks on Vernon Unsworth, the British cave diver he accused of being a paedophile, calling him a "child rapist" in an email to a Buzzfeed reporter.


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