Sci-tech

Tesla stock sinks after senior execs leave, Elon Musk tokes up

Tesla stock sinks after senior execs leave, Elon Musk tokes up”

Rogan lit up a joint about two hours into the interview.

And yes, Musk took a puff of what's been described as a joint of tobacco mixed with marijauna, which is legal in California.

At 47, his ideas have already come to life in unbelievable ways: SpaceX, a private company that conquered commercial space travel and is developing crewed interplanetary spaceflight; Tesla Inc., maker of stylish electric cars; PayPal, a major online payment system; and many other projects.

In a premarket SEC filing, the company said its chief accounting officer, Dave Morton, was quitting, effective immediately.

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

Kevin Kassekert and Felicia Mayo will lead the human-resources department, following the departure of former HR chief Gaby Toledano, who had been on leave since August.

"I don't think you would necessarily want to be me - you wouldn't like it that much", Musk told Rogan during the live-streamed podcast.

Morton - who did not respond to a request for comment - joined Tesla last month from Seagate Technology where he served as a VP for two decades and CFO for nearly three years.

"Executive departures are the real issue", said Ross Gerber of investment firm Gerber Kawasaki in Santa Monica, which holds Tesla shares.

In the month since Musk's now infamous "going private " tweet, Tesla has lost almost one-third of its value, prompting even long-time bullish analysts to urge the board to consider major changes to its executive lineup and relieve the CEO of some of his "banal" day-to-day duties of running a public company.

Philippe Houchois, an analyst at Jefferies Groupwith a hold rating on Tesla shares, said that Musk "seems to be on a slightly self-destructive bent".

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

Musk was recently under fire after tweeting that he was planning to take the company private, provoking several lawsuits "alleging market manipulation" and a subpoena from the Securities and Exchange Commission.

Soon after, Musk changed his mind and said he decided the company would remain public.

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. Employees at both its Fremont, California, vehicle factory and Reno, Nevada, battery Gigafactory, have been living through what Musk has called "production hell", working to ramp up production of the company's critical Model 3 sedan.



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