More trouble for Tesla after executives resign

(TSLA.O) has reached a fever pitch, with the news that two senior executives are leaving Elon Musk's electric-car maker emerging hours after he smoked marijuana during a podcast interview streamed live online.

Musk stunned investors a month back with tweets saying he had funding to take the company private for $420 per share.

Elon Musk, CEO of Tesla was seen smoking a "blunt", a cigar filled with marijuana, on the Joe Rogan podcast yesterday. When Rogan asked Musk if he had tried cannabis before, Musk stated that he thinks he "tried one once".

Separately, human resources chief Gabrielle Toledano told Bloomberg she planned to exit the company, not returning from a leave of absence.

This time, the Tesla billionaire puffed on a marijuana joint during the recording of the Joe Rogan Experience podcast. "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".

At one point, Musk and Rogan shared a spliff, though Musk said doesn't make a habit of smoking weed, which he called "a cup of coffee in reverse".


Musk also told Rogan it was "wrong" and "dangerous" for people to buy the flamethrowers he sold earlier this year, and he said that The Boring Company, his tunnel-construction firm, "started out as a joke".

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.

After discussing the artistic and engineering merits of wrist watches, Rogan brought out a spliff.

Tesla will stay public, Musk said on August 24, ending more than two weeks of speculation and calculation about how much a go-private deal would cost and who could be involved in it. Musk may have even violated Tesla company policy, according to CNBC.

Mr. Musk's antics came on a tough day in the stock market for his company. The U.S. Securities and Exchange Commission is now probing that assertion, and Musk quickly backtracked on the plan.

After rising as high as $387, shares of Tesla have now fallen 32% to $261. The stock has plunged 31 percent since Musk floated the idea of taking the vehicle maker off the public market, lopping billions of dollars off the company's market value.


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