Tesla's stock falls sharply after Elon Musk's tearful interview

Danny Woods
August 17, 2018

The New York Times said that in response to questions for its article on the interview, Tesla issued a statement from its board, excluding Mr Musk, that said: "We would like to make it clear that Elon's commitment and dedication to Tesla is obvious".

Looming over all of this has been Tesla's struggles to ramp up production of its relatively affordable Model 3 sedan.

Soon after the tweet that was posted during the middle of the day, Tesla's shares soared, and investors and journalists were taken aback by Musk's plan of taking Tesla private.

The billionaire electric auto maker, rocket launcher, tunnel digger and insulter of rescue divers sat down for an emotional interview with The New York Times, laying out recent trials and tribulations that led to a 6 percent stock-price drop on Friday for the vehicle company Tesla, which he co-founded and serves as CEO.

The 47-year-old said he sometimes did not leave the Tesla factory for three or four days straight and he had not taken off more than a week at a time since he was sick with malaria in 2001.

Musk said he had agreed not to tweet again about privatisation deal unless he had discussed it with the board, the report said. Rather than put him to sleep, the drug has sometimes led Musk to spend his nights on Twitter, worrying some board members, the newspaper said, citing a person familiar with the board's thinking. Musk said that during the meeting the fund's Managing Director "strongly expressed his support for funding a going private transaction". In June 2016 Musk mentioned talking with institutions about combining Tesla and SolarCity Corp, a deal that came together later that year. "You can love the company, you can love Musk and hate having him be the CEO at this point". "I was not on weed, to be clear", Musk said.

'This has really come at the expense of seeing my kids.

Tesla and SpaceX did not respond when Reuters requested comment on the matter.

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Tripp's tip to the SEC was filed after he was sacked, sued by Tesla for hacking trade secrets and transferring internal documents to third parties.

"They're not dumb guys, but they're not supersmart", Musk told the Times. "Weed is not helpful for productivity", he told the Times.

He said the powertrain modules are designed and built in-house by Tesla, which is enabling the company to move earlier with new technologies.

In the interview, Mr Musk revealed the physical and emotional toll of the past year as he sacrificed family milestones in the race to meet Tesla production targets.

The Tesla boss says he's prepared for 'at least a few months of extreme torture from the short-sellers, who are desperately pushing a narrative that will possibly result in Tesla's destruction'.

When he's not working, Musk told the newspaper that he takes the sedative Ambien to help him sleep.

They include the theft of copper and other raw material valued at more than $37 million, widespread wiretapping and hacking of Tesla employee cell phones and computers and a recent internal investigation of a May 24 written notification from the U.S. Drug Enforcement Agency and Storey County Sheriff's Office alleging that a Tesla employee may be participating in drug trafficking with a Mexican cartel.

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