After Elon Musk smokes pot live on YouTube, Tesla executives flee and shares plunge
Tesla stock is in a free fall Friday as chief executive Elon Musk's behavior and high-profile departures give investors reason to worry.
Stock and bond prices hit a record low Wednesday, reports Reuters, and continued to plunge after Musk appeared on comedian Joe Rogan's live podcast Thursday night to smoke a joint and discuss his brain.
Tesla's chief accounting officer, Dave Morton, announced his resignation this week after just one month with the company. His departure was due to "the level of public attention placed on the company," reports Axios, but he said he had "no disagreements with Tesla's leadership." Gaby Toledano, Tesla's head of HR, also said Friday that she would be permanently leaving the company, after she took a leave of absence over the summer, CNBC reports. Toledano was the highest-ranking woman at Tesla.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Tesla shares were down about 9 percent Friday morning, to $254.37. Stocks fell overall as wage growth stoked fears of further rate hikes, so Tesla isn't the only company experiencing a particularly tough day, but Musk's bizarre behavior in recent months reportedly has investors concerned about his leadership.
Tesla's stock has lost a quarter of its value in the last month alone, reports Reuters. Musk has been taking to Twitter to post about taking the company private and to criticize British cave divers — so either investors don't like his tweets, or they just really don't like weed. Read more at CNBC.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.
-
7 drinks for every winter need possible
The Week Recommends Including a variety of base spirits and a range of temperatures
By Scott Hocker, The Week US Published
-
'We have made it a crime for most refugees to want the American dream'
Instant Opinion Opinion, comment and editorials of the day
By Anya Jaremko-Greenwold, The Week US Published
-
Was the Azerbaijan Airlines plane shot down?
Today's Big Question Multiple sources claim Russian anti-aircraft missile damaged passenger jet, leading to Christmas Day crash that killed at least 38
By Harriet Marsden, The Week UK Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
What's next for electric vehicles under Trump?
Today's Big Question And what does that mean for Tesla's Elon Musk?
By Joel Mathis, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published