Tesla stock falls as Musk smokes marijuana during podcast

Yolanda Curtis
September 8, 2018

Another high-level Tesla official has left the electric automaker, amid struggles to meet production goals and negative publicity surrounding founder Elon Musk.

Musk then said: "I'm not a regular smoker of weed".

"I don't think you would necessarily want to be me; you wouldn't like it that much", Musk quipped.

As the video gained attention online, Tesla announced chief accounting officer Dave Morton had resigned after a month on the job, citing public attention and the fast pace of the role.

CEO Elon Musk appeared on "The Joe Rogan Experience" overnight.

During the course of a wide-ranging chat with Rogan, Musk drank whiskey and tried a marijuana-and-tobacco cigarette proffered by the comedian.

But to Rogan's surprise, Musk reached over and took hit, saying that the drug was legal in California.

Know what Musk? Most of us actually second that opinion. And now that the technology that underpins Tesla's products has matured, is it time for a more traditional CEO to step in and help the company level-off into a stable and profitable enterprise?

Efraim Levy, an independent stock analyst in New York City, said it's particularly worrying that executives in finance and human resources are bailing out, because "they are people who are often the most in-the-know".

His departure came as Tesla faces the prospect of a Securities and Exchange Commission investigation into Musk's aborted plan.

The blog posted to the company's website from CEO Elon Musk Friday announced that the company has appointed Jerome Guillen President of Automotive.

In a two-and-a-half-hour discussion with comedian Joe Rogan, Musk touched on topics as diverse as living in a computer simulation to coming up with a flamethrower "that's not a flamethrower" as a promotional item for his Boring Company. Over the past year, the company burned through roughly $2.4 billion of cash, with interest expense totaling $577 million, according to the research firm CreditSights.

"You probably can't because of stockholders, right?" said Rogan during last night's podcast as he handed Musk a blunt.

In the Friday filing, Morton said.

Tesla's shares dropped to $252.25 earlier Friday morning, falling 10 percent, Bloomberg reported. Musk brazenly declared that he had funding in the neighborhood of $50 billion United States dollars from unnamed sources secured and ready to take the company private. As for the figure, Musk said that $420 "seemed like better karma" than $419. Curiously, all this comes at a time when the company is oh-so-close to churning out profitable quarters. The SEC is investigating the circumstances surrounding the tweet; no evidence that funding had been secured was ever put forth by Musk or Tesla.

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