Tesla Inc. CEO Elon Musk appeared to be smoking weed during an interview on a popular podcast, and it looks like the electric car manufacturer has taken some serious hit because of it.
Musk appeared on “The Joe Rogan Experience” and spoke on a range of topics — from his Twitter use to the dangers of artificial intelligence. The interview with host and comedian Joe Rogan was streamed live on Youtube and ran for almost three hours.
Musk can be seen inhaling what Rogan described as a combined marijuana-tobacco joint. It was Rogan who gave the joint to Musk, saying it was legal.
The podcast was recorded in California, where cannabis is legal for both medical and recreational purposes.
Musk’s weed smoking during the interview, however, seemed to have cost him a few stock points.
Tesla’s share price fell about 7% Friday.
To make matters worse, the company is hounded by more executives leaving. In a regulatory filing after Musk’s interview, Tesla announced the departure of two executives.
Tesla Chief Accounting Officer Dave Morton decided to leave after being on the job for less than a month. He had said that the pace within the company and the level of public attention was way more than what he had expected.
The company also announced that its head of human resources, Gabrielle Toledano, would no longer be returning after her leave of absence.
Take a look at Musk’s interview at The Joe Rogan Experience here:
So is it really Musk’s weed smoking that’s harming Tesla?
If anything, Musk’s actions in the late-night interview was another example of his unorthodox style, which has actually won him a multitude of fans. Aside from smoking weed, he was drinking whiskey and also revealing a more personal side of himself.
Some analysts and investors, however, are saying that his erratic behavior in general is creating distractions for Tesla and for Tesla employees.
According to the Wall Street Journal, Tesla’s shares fell 6.3% on Friday to $263.24, approaching a 52-week low of $244.59. These shares are down 31% since Musk declared in a tweet on Aug. 7 that he had secured funding to take Tesla private at $240 a share.
Meanwhile, the company’s bonds had their second-biggest one-day fall on record.
Christopher Sullivan, at United Nations Federal Credit Union, said that Musk’s judgment “is comming under scrutiny.”
In a memo sent to employees, Musk announced several high-level promotions. He also warned employees that there will be “a lot of fuss and noise in the media” for a while and that these should just be ignored, adding that “results are what matter.”
Musk: I’ve tried weed once
It was near the end of the podcast interview when Rogan lighted what he called “marijuana inside of tobacco,” then asked Musk if he had ever smoked weed before.
To this, Musk laughed and said he thinks he has tried one once.