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Tesla stock falls as CEO appears to smoke marijuana on video

Tesla stock falls as CEO appears to smoke marijuana on video

Following Musk's interview with Rogan, as well as the recent resignation of a chief accounting officer, Tesla stock dropped 9 percent.

After two weeks or so at the company, Morton concluded he wasn't being heard or understood.

The latest round of executive departures comes after Elon Musk opted to walk away from his initiative to take the company private last month.

On Friday the company announced that chief accounting officer Dave Morton had resigned after a month, citing public attention and the fast pace of the post. That said, his experience was probably not a good fit for the electric vehicle maker's startup culture, which is characterized by its flat organizational structure and its fast pace. Morton said in the filing "the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations".

"I want to be clear that I believe strongly in Tesla, its mission and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting", Morton wrote in his statement today.




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. During the 2.5-hr podcast, the two men talked about several topics, from AI to time management to vertical liftoff airplanes and Japanese feudal weapons. In between topics, Musk took a moment to take a hit of a joint which reportedly contained a blend of tobacco and weed, substances which can be legally consumed for recreational purposes in California. Spend more time with your friends and less time on social media.

Tesla is under extreme pressure to turn a sustained net profit starting this quarter, as promised by Musk.

"We have been calling for a co-CEO or COO to assist to codifying the leadership structure and in so doing, the culture at Tesla", said James Albertine, analyst at brokerage Consumer Edge, speaking before the promotions were announced. A Tesla spokesperson was not immediately available for comment.

He was also drinking whisky at the time, Yahoo Finance reported.

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.

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