Tesla Stock Takes A Hit - After Elon Musk Does The Same


In a Friday morning SEC filing, Tesla revealed that Chief Accounting Officer Dave Morton is resigning less than a month after taking the job, citing the company's fast pace and "the level of public attention" on the company.

As Musk took a puff, and sipped on whiskey, the two discussed the relaxing effect of alcohol and weed. "As a result, this caused me to reconsider my future", Morton was quoted as saying in a company filing.

Tesla has long faced frequent executive turnover as the company faces intense pressure to succeed. 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.

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

Coupled with Musk's antics on the podcast, news of two high profile exits from Tesla saw the company's shares plunge close to 9%.

"I have a design for a plane", Musk said, going on to drop a few details about his latest initiative, an electric airplane that could fly at supersonic speeds and incorporate vertical take-off and landing technology.

Tesla CEO and certified loose cannon Elon Musk has frightened nervous investors yet again, after appearing on a live stream of comedian Joe Rogan's podcast and smoking a big fat joint.

Mr. Musk's antics came on a tough day in the stock market for his company.

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Late Friday evening, Tesla announced an executive reshuffling, after a month or more of chaos within the company.

Bloomberg also reported Tesla's Chief People Officer Gaby Toledano would not return from a holiday just over a year after joining. Last month, he sent out a tweet where he said: "Am considering taking Tesla private at $420". "You probably can't because of stockholders, right?"

"I think I had one once", Mr. Musk said.

A copy of that agreement contains a clause regarding communication with government agencies about "Tesla's confidential information", that some employment lawyers said may be deemed objectionable. I don't find that it's very good for productivity.

Shares of Tesla shares have declined more than $100 after the go-private dalliance. "Tesla 1st, 2nd & 3rd in August sales", Musk tweeted.

The episode also raised concern about Musk's health. Several analysts have argued the company needs to hire a chief operating officer to help management the company and bring stability to its day-to-day operations.

"He's an old, single white guy from England who's been traveling to or living in Thailand for 30 to 40 years, mostly Pattaya Beach, until moving to Chiang Rai for a child bride who was about 12 years old at the time", Musk wrote to the news organization.