We mentioned that there could have been a message in Elon Musk’s now famous tweet of last month where he said he was taking Tesla private at “420.” (420 is a kind of open code for cannabis.)
It might have been cute had any financing for such a deal been actually in place. (Like Musk insisted it was.) However the world’s most likable big time crony capitalist looks to be in trouble in many ways now. If one has a significant stake in Tesla one has to be considering the value of one’s shares at this point.
Cannabis isn’t a bad thing. Like liquor it’s for adults and like liquor it should be legal for adults. But going on a podcast and getting hammered publicly is probably not the best move for a CEO of a high profile company with the sword of Damocles hanging over it.
(From Yahoo News)
Tesla Inc’s shares dropped the most in two years on Friday, rocked by the departure of its accounting chief after just a month and mounting investor concerns about Chief Executive Elon Musk’s behavior after he smoked marijuana on a live webcast…
…Tesla shares, down just 1 percent after Musk’s appearance on the Rogan podcast overnight, fell as much as 10 percent after Morton’s resignation and were still down 5.1 percent at $266.75 in late morning trading.