Tesla Stock Is Tanking After Elon Musk Lost a Top Executive

Tesla Stock Is Tanking After Elon Musk Lost a Top Executive

Musk smoked marijuana with comedian Joe Rogan at the end of a two-and-half-hour interview on the The Joe Rogan Experience, which featured a wide-ranging discussion on topics including artificial intelligence, the Musk's technological ambitions and personal hardship.

Musk appeared on Joe Rogan's popular podcast on Thursday night sipping whiskey, smoking marijuana and talking about electric airplanes.

Tesla chief executive Elon Musk made a series of executive promotions to fill the gap left by senior management resignations on Friday, as shares in the electric auto maker tanked and criticism of its founder's controversial behaviour continued. "It's very hard to keep a auto company alive", Musk said.

In August, Musk told the New York Times he was exhausted from too much work and difficulty sleeping in an interview that sharpened questions about his mental stability.

Tesla shares fell as much as 10% to $252.25 as of 9.46am in NY, the steepest intra-day drop since June 2016.

Along with his electric auto company, Musk heads up space exploration firm Space X, tunnel construction firm The Boring Company, and Neuralink, which works on augmenting human brains with artificial intelligence.

After the podcast aired Tesla shares dropped 9 per cent, wiping $3.1 billion off the company's value (at the time of writing.) Although, that may have more to do with Musk's robotic behaviour than smoking weed. "Before Tesla, Chris ran several ultra high volume factories at PepsiCo", Musk informed, adding that Laurie Shelby, Tesla's VP, Environmental, Health and Safety (EHS) will also report directly to him.

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The sudden resignation of Morton as chief accounting officer could be of interest to securities regulators.

Today it was revealed that two top executives have left Tesla, and its plummeting stock fell even lower.

As of writing, Tesla stock is down 6.64% at $263.13 per share.

Bloomberg also reported on Friday that Chief People Officer Gaby Toledano would not return from a leave of absence just over a year after joining. "We believe Musk attempted to manipulate the price of Tesla securities with false and misleading tweets, in a directed effort to harm short-sellers". "As a result, this caused me to reconsider my future", Morton was quoted as saying in a company filing. Morton, who joined Tesla on August 6, was quoted in a company filing on Friday saying he believes "strongly" in Tesla and that he had no disagreements with the company's leadership or its financial reporting.

On August 8, the SEC launched an investigation into Musk's tweet, and investors have launched at least two lawsuits, including one on Thursday, according to the AP.

His erratic behavior isn't new: Amid the rescue of a boy's soccer team from a Thailand cave earlier this summer, Musk accused one of the divers of being a pedophile.

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