Elon Musk Tokes and Tesla Stock Tumbles

CNN VAN

Musk stunned investors a month back with tweets saying he had funding to take the company private for $420 per share, which many thought was a reference to weed.

Days after Elon Musk made headlines for repeating unsubstantiated allegations that a British diver involved in the Thailand cave rescue is a pedophile, the CEO of Tesla and SpaceX provoked more investor uncertainty when he appeared to smoke a blunt on-air during a podcast. Elon Musk has continued to self-inflict PR disasters one after another, and not only that, but there is a disturbing trend of top talent bailing out on the automaker.

Elon Musk sipped whiskey and smoked marijuana during a two-and-a-half-hour podcast with comedian Joe Rogan that touched upon everything from flame throwers and artificial intelligence to the end of the universe.

"This caused me to reconsider my future", Morton said. While Musk said he was "not a regular smoker of weed", he took a drag from what Rogan said was as a joint containing tobacco mixed with marijuana, which is legal in California.

Musk added: "I'm not a regular smoker of weed - nearly never".

Musk told Rogan that running Tesla is the hardest of his several endeavors.

Shares fell over 10% in early U.S. trade.




Some Wall Street analysts called again for the company to appoint another senior leader for the company to take the pressure off Musk, or rein in his control.

In July he shocked investors by announcing on Twitter that he had funding secured to take his vehicle firm Tesla private.

Musk also announced a few title changes, including a promotion for Jerome Guillen, former vice president of sales and services, who has been named president of Tesla automotive and will report directly to Musk.

During their conversation, Mr Musk talked about his health and his management of Tesla - which he said was the most challenging of his various businesses and projects.

After rising as high as $387, shares of Tesla have now fallen 32% to $261.

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

She has an impressive resume: She served 10 years on the executive team at Electronic Arts, which followed a job leading human resources at Siebel Systems and time at Microsoft and Oracle.

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