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Tesla stock falls amid controversy

Saturday, September 8, 2018

Associated Press

Shares of electric-car maker Tesla Inc. fell more than 6 percent early Friday after the CEO appeared to smoke marijuana during an interview and the company’s accounting chief left after a month on the job.

CEO Elon Musk appeared on “The Joe Rogan Experience” overnight. About two hours into the podcast, which can be seen on YouTube, Musk inhales from what the host says is a combined marijuana-tobacco joint, which Rogan notes is legal. Rogan passes the joint to Musk, who also takes a sip of whiskey.

Shortly after smoking, Musk looks at his phone and laughs, telling Rogan he was getting texts from friends asking why he was smoking weed during the interview. Later, Musk says he doesn’t notice any effect from the joint, which he claims he rarely smokes.

As the video gained traction, more news hit: Early Friday, the Palo Alto, Calif., company announced that Chief Accounting Officer Dave Morton resigned after a month on the job, citing public attention and the fast pace of the post.

The company disclosed the departure in a regulatory filing.

Tesla is under extreme pressure to turn a sustained net profit starting this quarter, as promised by Musk.