Tesla stock falls as CEO appears to smoke marijuana on video

Tesla stock falls as CEO appears to smoke marijuana on video

Tesla stock falls as CEO appears to smoke marijuana on video

The latest drop in Tesla's stock has caused Consumer Edge analyst James Albertine to call for the company to appoint another senior leader to support Elon Musk.

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.

"After offering him the joint, Rogan said: "'You probably can't do this because of stockholders, right?"

Shares of Tesla fell more than 6 per cent to reach a five-month low on Friday morning following the departure of the company's chief accounting officer, Dave Morton, who resigned less than a month into the job on Friday.

The day after he started, Musk tweeted he was considering taking the company private with "funding secured".

Musk apologised to Unsworth in July for similar insults he made on Twitter following the rescue of a dozen Thai schoolboys and their football coach from a cave in Thailand.

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.

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Morton is a veteran in the tech sector, serving as the Executive Vice President and Chief Financial Officer of Seagate before starting his employment at Tesla.

Tesla announced Toledano joined Tesla in May 2017 as chief people officer.

"I'm not a regular smoker of weed", Musk, 47, said on the podcast before taking a puff from a joint Rogan said contained tobacco and weed, which is legal in California where the two conducted the interview. It said Morton had no disagreements with Tesla's leadership or financial reporting.

Late on Thursday, Musk was filmed drinking whiskey, briefly smoking marijuana and wielding a Samurai sword during a 2-1/2-hour live Web show with comedian Joe Rogan that swiftly spread across social media.

Tesla declined to comment beyond the official filing.

Coupled with an upfront cost of 21 percent of insured value, it now costs an investor around $280,000 to insure $1 million of Tesla debt for a year.

Viecha also restated Tesla's forecast that it will build 50,000 to 55,000 of its Model 3 sedans in the current quarter, and indicated the company's working capital will improve as production increases, Spak wrote.

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