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Friday, September 7, 2018

Tesla stock tanks 9 percent after Elon Musk smokes weed on a podcast and top executives resign

Shares of Tesla were down about 9 percent lower Friday after a bizarre podcast appearance by CEO Elon Musk and reports of a pair of C-suite executive exits.

The stock started trading at $260.10, extending a painful week for the automaker. As of Thursday's close, the stock had already lost 7 percent on the week.

Late Thursday night, Musk smoked marijuana and sipped whiskey during an appearance on Joe Rogan's podcast -- fueling concerns about his recreational drug use.

Friday morning, the company revealed its Chief Accounting Officer, Dave Morton, had resigned citing intense public attention. He had been at the company for only one month.

The company's HR chief, Gaby Toledano, is also leaving the company, Bloomberg reported Friday. Toledano had been on leave from Tesla since before the company was rocked messy take-private conversations and potential SEC probes, Bloomberg previously reported, and she will not return from leave.

Friday's plunge puts Tesla stock more than 30 percent off its all-time intraday high of $389.61.

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