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“Investors should be focusing on Tesla’s growing sales and ambitious plans to reinvent the American automotive world,” Paul R. La Monica writes for CNN. “Instead, they are watching CEO Elon Musk smoke a blunt with Joe Rogan.”
“They’re looking at an easy punchline for comedians, a man who’s become a walking Page Six item,” La Monica writes. “They’re seeing rapper Azealia Banks’ bizarre Instagram posts alleging that she was in Musk’s house while he tweeted on acid, reading him tearfully talking to The New York Times about his Ambien use and making baseless accusations about a diver in the Thai cave rescue.”
“It’s an even bigger problem considering the brain drain that’s now going on at Tesla. Chief accounting officer Dave Morton is leaving Tesla after just a month on the job, citing concerns about ‘the level of public attention placed on the company,’” La Monica writes. “Bloomberg reported Friday that chief people officer Gaby Toledano, who has been on a leave of absence, will not come back to Tesla either.”
“All of this wackiness is taking its toll on Tesla’s stock. Shares fell about 6% Friday. They are now down more than 15% this year and are more than 30% below the all-time high they hit last year,” La Monica writes. “‘At times, Musk appears to be working against himself,’ Munster wrote. ‘At the core, we believe he wants to prove his doubters wrong, but many of his actions strengthen the case against him.’ Musk should delete his Twitter account, stop talking about the Thai rescuer and not use pot in a public setting, Munster said.”
Read more in the full article here.
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