Tech

Elon Musk Tokes and Tesla Stock Tumbles

Elon Musk Tokes and Tesla Stock Tumbles

As the video gained traction, more news hit: Early Friday, the Palo Alto, California, company announced that Chief Accounting Officer Dave Morton resigned after a month on the job, citing public attention and the fast pace of the post.

Statements from Chief People Officer Gabrielle Toledano have not been reported as of writing.

Tesla's Elon Musk provoked another Twitter storm on Friday by briefly smoking marijuana on a live web show with comedian Joe Rogan. It said Mr Morton had no disagreements with Tesla's leadership or financial reporting.

More seriously for Tesla, Musk startled investors for tweeting on August 7 that he planned to take the company private, only to suddenly reverse those plans weeks later.

Rogan pulled out a joint in the middle of the interview, leading Musk to wonder if it was a tobacco cigar or cannabis.

CAO David Morton joined the team August 6 and provided notice of his immediate resignation September 4, according to a company 8-K filing.

More news: Amazon is 2nd USA company to reach $1 trillion market value

In an interview with The New York Times shortly afterward, Musk said he didn't smoke weed before he tweeted. As for the figure, Musk said that $420 "seemed like better karma" than $419. "I don't actually notice any effect.I don't find that it is very good for productivity".

It was the latest in a string of unconventional behavior by the billionaire South African native who is also CEO of rocket startup SpaceX. Later, Tesla's eccentric CEO tweeted that he was negotiating the go-private deal with buyout firm Silver Lake, investment bank Goldman Sachs and several other firms, including the Saudi Arabian government.

Analysts on Friday reiterated their call for Tesla to bring in another senior leader. "We think this is further evidence that the time is now for management and the Board to address these issues", Albertine said.

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

Tesla said cash from Model 3 sales will pay the bills and drive profits.

Prominent short-seller Andrew Left has sued Tesla and Musk, saying in his proposed class-action complaint on Thursday that Musk's issuance of materially false and misleading information related to his abandoned plan harmed both short-sellers and those hoping the stock would rise.