Tesla stock falls as CEO appears to smoke marijuana on video

Clark ByrdSep 08, 2018

Tesla stock prices dipped more than 9.8%, near $253.75 during Friday (September 7) morning trading.

This time, the Tesla billionaire puffed on a marijuana joint during the recording of the Joe Rogan Experience podcast. The joint was provided by Mr Rogan, who said it was legal. For a Factbox on executive departures, see: Even before Musk's surprise August 7 Twitter disclosure that he had funding "secured" for a go-private deal, Tesla had been under scrutiny from investors, analysts and short-sellers as it works to hit production targets and slow its cash burn. Chief accounting officer Dave Morton announced in a filing Friday that he had left the company this past Tuesday after only a month on the job. Morton, who left his role as Seagate (STX)'s CFO to join Tesla, was not flustered by the tweet and met with Musk to go over various details that would make a take-private hard.

About two hours into the podcast, which can be seen on YouTube, Musk inhales from what the host says is a combined marijuana-tobacco joint, which Rogan notes is legal.

FILE- In this June 24, 2018, file photo Tesla CEO and founder of the Boring Company Elon Musk speaks at a news conference in Chicago.

That move, described in a company blog with several other promotions as a result of board and management discussions, gives Musk a seasoned auto industry veteran to lean on at a time when some investors have called for a new chief operating officer.

The announcement sent Tesla stock surging by more than 10 percent.

Shortly after smoking in the video, Mr Musk looks at his phone and laughs, telling Rogan he is getting texts from friends asking why he is smoking weed during the interview. "I don't actually notice any effect ..."

The company announced the departure in a regulatory filing. "This caused me to reconsider my future".

"I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting", he said. The Model 3 starts at $35,000, although the cheapest one that can be purchased at present costs $49,000.

As they had before and during Morton's transition to CAO, Tesla's CFO and corporate controller will oversee the firm's accounting functions and personnel. The report, which was published by electric car-themed news site InsideEVs, estimated that the Tesla Model 3, Model S, and Model X, were the Top 3 electric cars in the U.S. in August.

Related Articles:



« Previous article


Popular Pages

Tiger Woods calls Nike’s Colin Kaepernick ad a "beautiful spot"
Or, perhaps, maybe they just thought supporting the head of a campaign to stop police killings of unarmed Black people was a good idea.

Trump Campaign Adviser George Papadopoulos Gets 14 Days in Jail
"I made a awful mistake, but I am a good man who is eager for redemption", Papadopoulos said at his sentencing. Asked if Papadopoulos still remained loyal to Trump, Breen smiled wryly and paused for a beat.

Seattle Seahawks turn down second-round pick offer from Dallas Cowboys
That has led to a stalemate that has had Seattle entertaining trade offers for Thomas since last spring. Rapoport added that the Cowboys "tried like crazy" to acquire Thomas but were out.

Trump blasts Jeff Sessions and compares him to 'Lyin’ James Comey'
The president cited what he called "Obama era investigations" just before midterm elections and that "two easy wins now in doubt". Trump recently told Bloomberg News that he would keep Sessions as attorney general until after the midterm elections.

Rapper Mac Miller dies at 26
According to TMZ , Miller's substance abuse was one of the reasons Grande and the rapper ended their two-year relationship . The American star was found to be twice the legal alcohol limit when he was arrested for drink driving back in May.

The semifinal-bound duo giving the US Open a Japanese flavor
Meanwhile, Osaka won a Masters title at Indian Wells and with her strong run in NY , where she will next play 2017 U.S. In her third-round match, she was even quicker, dominating Aliaksandra Sasnovich , 6-0, 6-0, in 50 minutes.

I'm suprised Ronaldo left Real Madrid - Messi
He was runner-up in 2007 and 2008 before winning the title for the first of five years in 2009. Cristiano Ronaldo was nursing a black eye on Wednesday as he trained at Juventus HQ in Turin.

Semi-finalist Serena says still 'long way to go' at US Open
The 36-year old, American, is seeking her first Grand Slam trophy since giving birth to daughter Olympia last September. Williams has carried out thirteen aces and made 5 double faults and carried out 4 break factors out of seven.

Defending champ Sloane Stephens falls in quarterfinals
Serena Williams is through to the Women's semi finals following a straight set win over eight seed Karolina Pliskova. Nadal had defeated Thiem in the Roland Garros final in June but this was their first meeting away from a clay court.

David DeCastro backpedals after strong words about Le'Veon Bell
What the Steelers can wait for at this point is Bell to join them. "I've got an opportunity for Sunday and I can't wait for it". He can still technically accrue a full year of service time if he reports by Week 10.