Shares of Tesla plunged as much as 9 percent Friday after news of a pair of C-suite executive resignations and a bizarre video showing CEO Elon Musk smoking pot on a podcast, capping a tumultuous month since Musk launched the company into controversy with a take-private tweet.
The stock opened Friday’s session at $260.10 before paring losses slightly. Shares were roughly 7 percent down after the first hour of trading, closing down 6 percent. It extends a painful week for the automaker. As of Friday’s close, the stock lost more than 11 percent on the week.
@WallStCynic – There is no Model Y, pickup truck, semi or Roadster. Or solar roof either, for that matter. These products do not exist. And
$TSLA is not building the capacity to make them. I have never seen a company simply make things up on such a grand scale. It’s legally breathtaking!