Tesla Bonds Fall as Chief Accountant Resigns

Joe Rogan Experience  YouTubeElon Musk smoking weed on ‘The Joe Rogan Experience

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.

Tesla's stock was down over 7% on Friday after news that two executives were leaving and after CEO Elon Musk was filmed smoking a spliff - weed mixed with tobacco - during a live interview on Thursday.

The drop followed not only Mr. Musk's interview, but also Chief Accounting Officer Dave Morton's resignation that was announced this week.

Tech tycoon Elon Musk sipped whiskey, smoked weed and suggested "love is the answer" to humanity's woes as he appeared on a two-hour podcast with comedian Joe Rogan.

Rogan asks if he wants some, but adds that Musk probably can't because of stockholders, nearly daring him.

At one point, Musk and Rogan shared a spliff, though Musk said doesn't make a habit of smoking weed, which he called "a cup of coffee in reverse". They did the kind of things you'd expect people to do on Joe Rogan's podcast: they talked about the cosmos, the rise of AI, samurai swords, and drugs.

Elon Musk
Joe Rogan Experience YouTube

Tesla's $1.8 billion junk bond maturing in August 2025 plunged as much as 4 cents on the dollar to below 82 cents, a record low, in Friday trading, pushing the yield above 8.8 percent.

Earlier this week Musk escalated his baseless attacks against British diver Vernon Unsworth, claiming that the man who helped rescue children from a cave in Thailand was a "child rapist" in an email to a reporter.

Musk touched on the difficulties of having the kind of brain that has enabled him to build and run multiple high-tech companies at the same time.

In July he shocked investors by announcing on Twitter that he had funding secured to take his auto firm Tesla private. As noted, Musk once tweeted that he was considering selling shares of his company for $420.

The exodus continues amid ongoing criticism over Musk's leadership, concern over the automaker's general prospects, and fresh legal issues over market manipulation.

Has Elon Musk taken Tesla as far as he can? The impetus? Reportedly the unrelenting pace of work and the level of public scrutiny at the company. In the first quarter of this year, the company lost Morton's predecessor, Eric Branderiz, and Susan Repo, who was treasurer and vice president of finance.

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