Tesla Shares Plunge after Accounting Officer Resigns & Musk’s Interview

Tesla Inc.’s (NASDAQ: TSLA) Chief Accounting Officer Dave Morton resigned from the Company just one month after joining, according to an 8-K filing, released on Friday. Morton’s provided notice on September 4th that he will be resigning immediately. Tesla shares were down 7.56% at the opening bell on Friday.

“Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations.” said Morton in the filing. “As a result, this caused me to reconsider my future. 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 took the role of Chief Accounting Officer in early August. His resignation comes shortly after Senior Engineer Doug Field and Vice President of Worldwide Services Ganesh Srivats both departed back in July.

Bloomberg also reported that Gaby Toledano, Chief People Officer took a leave of absence in August and will not be returning. And two months before that, two major executives in Tesla’s energy unit, Arch Padmanabhan and Bob Rudd both resigned.

Morton resignation filing comes the day after Tesla Chief Executive Officer Elon Musk appeared on Joe Rogan’s live podcast on Thursday. On the interview, Musk smoked marijuana and drank whiskey and discussed his companies: Tesla, The Boring Company and Space X.

Rogan, who is an advocate for marijuana legalization, ended up sharing a rolled joint containing both tobacco and marijuana. During the interview, Musk asked Rogan whether it was a joint or a cigar, then Rogan offered Musk the joint.

Rogan then said to Musk that he probably couldn’t smoke because of his shareholders, in which Musk responded back saying: “I mean it’s legal, right?”

Musk then said he doesn’t smoke marijuana regularly because it is not good for productivity, but previously, in a New York Times interview, he admitted to using prescription drug Ambien to help him sleep.

Tesla has been under fire after Musk informed shareholders that he is considering taking the Company private last month at USD 420.00 and that he also has funding secured. Musk quickly then released a statement saying that the Company will remain public.

5 Comments
  1. Mark Oliver 12 months ago
    Reply

    The power of Tesla Toke and its high-performance will blow away the competition in any drag race. #Tesla #ElonMusk $tsla

  2. Thomas Coutts 12 months ago
    Reply

    $TSLA haven’t whacked the mole yet since morning cover, 268 looked juicy but given it a minute, longs a dim on this one, never can tell. Kool-Aid for all.

    • Douglas Kass 12 months ago
      Reply

      @elonmusk takes a hit and $TSLA drops 6 points (not that they’re necessarily totally correlated) – the stock market is definitely a very rational thing we should use to gauge the heath of the economy

  3. Arlo 12 months ago
    Reply

    I feel like it will rebound next week

  4. Craig Miller 12 months ago
    Reply

    Tesla – the Car company or Cannabis play ? $TSLA . Now we know where his brain power emanates

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