Tesla stocks take a hit after Elon Musk lights up a joint on camera

Featured Image Credit: Tesla CEO and founder of the Boring Company Elon Musk speaks at a news conference, Thursday, June 14, 2018, in Chicago. (AP Photo/Kiichiro Sato)

“It’s like a cup of coffee in reverse.” – Elon Musk, Tesla CEO

On Friday, Tesla shareholders were once again left questioning whether the electric car manufacturing company was set to go up in smoke after a video of its CEO, Elon Musk, taking a hit off a marijuana-tobacco joint during a podcast interview went viral and news broke of yet another executive departure.

Musk equated the experience to “a cup of coffee in reverse” and told comedian Joe Rogan people wouldn’t want to be him during their two-and-a-half-hour conversation that revolved around Tesla, the future of transportation and artificial intelligence.

Following the two major headlines, Tesla stocks fell more than 6 percent, closing at their lowest point since March of last year at $263.24. On Monday, the value rose more than 3 percent, marking the luxury carmaker’s biggest one-day percentage jump in nearly three weeks.

The partial recovery is essential to patch up public perception and quell the nerves of investors, who have witnessed a 30 percent drop in shares since Musk’s abrupt Aug. 7 tweet about taking Tesla private, which triggered an investigation by the Securities and Exchange Commission.

Musk isn’t in the clear for his cannabis stint yet though. The U.S. Air Force is “looking into” the matter because Musk holds multiple military contracts, according to CNBC.

Host Nikki Medoro thinks people are blowing the scenario out of proportion, asking: “How is it this that different than being recorded drinking a beer?” — after all, the incident occurred in California where the drug is legal. Alternatively, host Chip Franklin believes the reactions have been on-par, especially when taking into account the other bizarre actions taken by the tech visionary in recent months.

“I want my CEO to be a guy that shows stability,” he said.

Listen to the two debate below!

 

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