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

Tesla chief Elon Musk smokes marijuana on live web show

More trouble for Tesla after executives resign

Tesla's chief accountant, Dave Morton, resigned Tuesday after just a month at the company, the automaker disclosed on Friday in a filing with the Securities and Exchange Commission.

Bloomberg News also reported that Tesla's chief people officer, Gaby Toledano, is not returning to the company after taking a leave.

Shares of the electric carmaker tumbled more than 6 percent on Friday to $263.24 (roughly Rs. 19,000), with investors on edge after a tumultuous August during which Musk proposed and then abruptly pulled the plug on a go-private deal. Morton stated that "the level of public attention placed on the company" and "the pace within the company" caused him to reconsider his future. He said he has no disagreements with Tesla's leadership or its financial reporting.

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Musk, meanwhile, turned heads with a more than two hour podcast interview with comedian Joe Rogan in which he drank whiskey and appeared to try a marijuana-and-tobacco cigarette proffered by the comedian as he mused about artificial intelligence and colonizing space. That saga ended with a Friday night announcement in late August, in which Musk said Tesla would remain a publicly traded company. Later, Musk says he doesn't notice any effect from the joint. I don't find that it's very good for productivity.

Musk has also acknowledged that his intense workload of 120-hour weeks was taking a toll on his physical health, according to an emotional interview with the New York Times last month. He had only been with the company for about a month. Morton is a veteran in the tech sector, serving as the Executive Vice President and Chief Financial Officer of Seagate before starting his employment at Tesla.

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

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The Boring Co admittedly started out as a joke and a "hobby" but turned into a real company after Musk concluded there was no other way to improve the awful traffic around Los Angeles. Just 17 days after tweeting that he had the funding and investor support secured to buy out some stockholders at $420 a share, the billionaire scrapped the idea without having made a formal proposal to the board. They were sitting inside a studio in California, where medical and recreational marijuana use is indeed legal.

The tumult comes as Tesla has been ramping up production of its Model 3 electric vehicle, which is seen as a make-or-break effort for the company.

"The interesting thing about an electric plane is that you want to go as high as possible, but you need a certain energy density in the battery pack, because you have to overcome gravitational potential energy", Musk said.

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Meanwhile, shareholder activist and short-seller Andrew E. Left sued Tesla and Musk on Thursday, alleging that Musk "artificially manipulated the price of Tesla securities with objectively false tweets in order to "burn" the Company's short-sellers".

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