High there: Reaction to Elon Musk smoking pot is snarky, blunt

Noel Cummings
September 8, 2018

"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", Morton said in a securities filing. But a lot of the "public attention" Tesla received during Morton's brief tenure was focused on the possibility of Tesla going private.

That followed a twitter storm overnight about Musk smoking marijuana and drinking whisky in a 2-1/2-hour live web show with comedian Joe Rogan.

Last night Elon Musk, the billionaire inventor and electric auto innovator, was a guest on Joe Rogan's podcast.

Tesla shares, down just 1 per cent after Musk's appearance on the Rogan podcast overnight, fell another 7 per cent after Morton's resignation to $262.54.

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Tesla did not immediately respond to requests for comment.

Musk said Tesla is about to build and deliver more than twice as many cars as it did last quarter, without being specific about whether the company would accomplish this feat in the third or fourth quarter.

Tesla Motors founder and tech billionaire Elon Musk sat down on "The Joe Rogan Experience" to share an interesting take on social media and technology - and smoked a blunt, too. At one point, Rogan, who was smoking cannabis, invited Elon Musk to take a puff.

"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", the company quoted Morton as saying in a filing.

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Musk shrugged but said nothing. Later Musk says he doesn't notice any effect from the joint, which he claims he rarely smokes. Last month, Musk ignited controversy by announcing on Twitter that a deal to take Tesla private was all but certain, only to abandon the plan 17 days later. The SEC is investigating the circumstances surrounding the tweet; no evidence that funding had been secured was ever put forth by Musk or Tesla.

Shares of electric vehicle maker Tesla Inc. tumbled over 9 percent as the markets opened Friday, Sept. 7, after the CEO smoked marijuana during a YouTube video podcast and the company’s accounting chief left after a month on the job. Credit ratings agency Moody's most recently lowered its outlook on Tesla's situation to negative from stable, citing "significant shortfall" in the Model 3 production rate and a tight financial situation. Shares soared on the news, eventually rising more than 10 percent (the Nasdaq briefly halted trading to ensure the tweet was legitimate).

Tesla has told investors it expects to turn a profit in the second half of this year, a forecast the company's head of investor relations, Martin Viecha, reiterated at a conference earlier this week sponsored by RBC Capital Markets, RBC analyst Joseph Spak wrote in a note on Thursday.

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