Tesla executives quit; CEO Elon Musk appears to smoke pot

Gladys Abbott
September 10, 2018

Although the details change, the pattern stays the same.

As of writing, Tesla stock is down 6.64% at $263.13 per share.

CEO Elon Musk now says that most of Tesla's shareholders believe it's better off in private hands Elon Musk said investors have convinced him not to make Tesla a private company (Brian Lawless/PA) Tesla CEO and Chairman Elon Musk unveiling the Roadster 2 during a presentation in Hawthorne, California a year ago, the billionaire's tweet has sparked debate over the electric auto maker's future.

Shares of Tesla fell 1.3 percent in trading before the bell.

All of it comes as the electric automaker continues to struggle to convert itself from a money-losing boutique to a mass-production profit machine.

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.

At least 48 executives have left the company this year.

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"Electric cars are important, solar energy is important, stationary storage of energy is important".

Amid the mounting pressure, Musk must now dig himself out of a fresh controversy of his own making. Musk, 47, took one drag (see a brief clip at the end of this post) from what Rogan described as a joint containing tobacco mixed with marijuana, which is legal in California. Rogan passes the joint to Musk, who also takes a sip of whiskey. That saga ended with a Friday night announcement in late August, in which Musk said Tesla would remain a publicly traded company.

The tech entrepreneur continued by assuring viewers that he is "not a regular smoker of weed", since it's not "very good for productivity". He said he has no disagreements with Tesla's leadership or its financial reporting.

Dave Arnold, who has worked in Tesla communications for several months, has been promoted to Senior Director of the department.

"We decided to make it real and dig a tunnel under LA and then other people asked us to build tunnels, so we said yes", he said. "It catches up with you".

Mr Musk's conduct has been questionable since a first-quarter earnings conference call when he criticised Wall Street analysts for asking "bonehead" questions about the company's finances. Or his "pedo" refresher for the cave diver involved in rescuing the Thai football team.

Following Musk's "funding secured", tweet on August 7, Morton walked the erratic billionaire through the pitfalls of taking Tesla. USA regulator the Securities and Exchange Commission (SEC) is investigating whether the tweets may have violated United States securities law, according to a report in August by Fox Business Network, citing sources. His responsibilities could include the types of things analysts have said Musk needs a COO to do in running the day-to-day operations of the company.

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