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Tesla shares sink after key executives exit

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Tesla shares have fallen sharply after two senior executives abruptly left the electric car firm headed by Elon Musk.

The chief accounting officer has left less than a month after joining, while its HR officer is also reported to have resigned a year after joining.

The resignations came just hours after the firm's controversial chief executive Mr Musk smoked marijuana live on the web during a podcast with comedian Joe Rogan.

Shares fell over 10% in early US trade.
Accounting officer Dave Morton's resignation was announced in an official filing with US regulator the Securities and Exchange Commission.

Meanwhile, its chief people officer Gaby Toledano had decided not to return to the firm after a period of absence, according to newswire Bloomberg.

Mr Morton, who joined Tesla on 6 August, resigned on 4 September.

He said his decision to quit was due to the higher-than-expected "level of public attention placed on the company, as well as the pace within the company."

"I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting," he added.

The fallout comes as the firm is under renewed scrutiny due to the erratic behaviour of Mr Musk.

In July he shocked investors by announcing on Twitter that he had funding secured to take his car firm Tesla private. He later said the firm would stay public.

He also tweeted that he might suffer from bipolar disorder but then said "maybe not medically".

In August he told the New York Times that he worked "120-hour weeks" and took sedatives.

His brother Kimbal Musk told the newspaper that the reason Mr Musk "seems to attract drama" is because he is "so transparent, so open, in a way that can come back to bite him".

Since Mr Musk announced his plan to delist Tesla, its share price has dropped by 20%.

Some analysts have urged the firm to appoint another senior leader.

James Albertine, an analyst at Consumer Edge, said it had previously called for a co-chief executive or chief operating officer to help balance the leadership structure.

"We think this is further evidence that the time is now for management and the board to address these issues," he added.

https://www.bbc.com/news/business-45449417
 
who cares? Tesla is a typical US overhyped shareholder bubble that pops one day...
They are not the future and will never become a world market leader...
Even if the most unthinkable dream future come true what most likely will never happen..Tesla will never get close to 2% of world car market share...
 
Say what you want but Tesla founded (and established the market for) electric vehicles. And Tesla develop best electric vehicles.

Employees come and go in any organization. Not a big deal.
 
who cares? Tesla is a typical US overhyped shareholder bubble that pops one day...
They are not the future and will never become a world market leader...
Even if the most unthinkable dream future come true what most likely will never happen..Tesla will never get close to 2% of world car market share...

Considering 86 million new cars are sold a year i’m sure they would be happy to sell 2%.
 
Considering 86 million new cars are sold a year i’m sure they would be happy to sell 2%.

that is their goal and that is completely unrealistic...

Seriously

Tesla is worth as much as BMW

a highly successfull car producer which has real worth real large scale production thousend of patents and BMW spend 5 time more money in research as TESLA...and other than TESLA BMW makes a real hughe profit billions high.

One day TESLA bubble makes a boom and the investor money is gone... you see how fragil TESLA is.. the chief smoke a pod and the share felt 10%.... now imagine something realy seriously hit TESLA...and they are finished.

Large scale traditional car producer can take a huuge scandal hit and don´t go boom.... did the disel scandal slowe ddown VW... not a mm...they are on the way to sell 11million cars this year... most likely they sell over a million more than Toyota... (in the first half 2018 they have already sold nearly more than one million more than Toyota)

Just imagine something similar would hit TESLA... they could close their doors the next day..
 
that is their goal and that is completely unrealistic...

Seriously

Tesla is worth as much as BMW

a highly successfull car producer which has real worth real large scale production thousend of patents and BMW spend 5 time more money in research as TESLA...and other than TESLA BMW makes a real hughe profit billions high.

One day TESLA bubble makes a boom and the investor money is gone... you see how fragil TESLA is.. the chief smoke a pod and the share felt 10%.... now imagine something realy seriously hit TESLA...and they are finished.

Large scale traditional car producer can take a huuge scandal hit and don´t go boom.... did the disel scandal slowe ddown VW... not a mm...they are on the way to sell 11million cars this year... most likely they sell over a million more than Toyota... (in the first half 2018 they have already sold nearly more than one million more than Toyota)

Just imagine something similar would hit TESLA... they could close their doors the next day..

Only because the market currently thinks oil is out and electric is in...and BMW isn't seen as being serious about it.

GM sells 10 million cars a year. That's 11% of worldwide sales. Tesla is outselling most of the world's largest automobile players electric vehicle lineup. Shouldn't that be setting off alarm bells?
 
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Only because the market currently thinks oil is out and electric is in...and BMW isn't seen as being serious about it.

GM sells 10 million cars a year. That's 11% of worldwide sales. Tesla is outselling most of the world's largest automobile players electric vehicle lineup. Shouldn't that be setting off alarm bells?

GM is miles away from selling 10million vehicles world wide.

GM sold first half 2018 4.3million vehicles... they most like will not scratch at the 9 million mark.
GM went down to 4th place globaly behind VW, Toyota and Renault Aliance...

GM in its history NEVER sold 10 million vehicles a year... NEVER... the best ever was 2013 with 9.628.912 vehicles.
the last years...
2017 9.6million
2016 7.7million
2015 7.4million
2014 9.6million
2013 9.6million
2012 9.2million
2011 9.0million
2010 8.4million
2009 6.4million
2008 8.2million



So far there are only two car producer ever toped 10million vehicle a year thats Toyota and VW

Toyota sold more than 10million in
2012, 2013, 2014, 2015, 2016 and 2017 and will fail most likely this year
VW sold
2016, 2017 more than 10million and will this year pass as first producer ever the 11million mark
 
GM is miles away from selling 10million vehicles world wide.

GM sold first half 2018 4.3million vehicles... they most like will not scratch at the 9 million mark.
GM went down to 4th place globaly behind VW, Toyota and Renault Aliance...

GM in its history NEVER sold 10 million vehicles a year... NEVER... the best ever was 2013 with 9.628.912 vehicles.
the last years...
2017 9.6million
2016 7.7million
2015 7.4million
2014 9.6million
2013 9.6million
2012 9.2million
2011 9.0million
2010 8.4million
2009 6.4million
2008 8.2million



So far there are only two car producer ever toped 10million vehicle a year thats Toyota and VW

Toyota sold more than 10million in
2012, 2013, 2014, 2015, 2016 and 2017 and will fail most likely this year
VW sold
2016, 2017 more than 10million and will this year pass as first producer ever the 11million mark


You sound scared.
Tesla is eating German cars live now.

In USA past 2 months, Tesla sedans have sole nearly as much BMW + Audi + MB + Porsche "sedans" combined.
German cars are cheaters. Tesla for the win. Silicon Valley to rule the world.
 
is a single market the world? No...

First changes comes to California, then to USA, then Europe, then rest of the World. It has been the timeline for new tech adoption.

When the cost of electricity/mile is 1/4th the price of gas in Europe or anywhere else, EV's will rule.
Now all EV's (Jaguar I-Pace, GM Bolt, MB EQC....) are less efficient miles/KW than Tesla.

A 55KWhr Tesla Model 3 gives 310 miles, while a MB EQC 80Kwhr which is coming out in couple of years will give only 200 miles. Agreed they are not identical, but Model X 75kwhr battery gives 250 miles. Model X is going to get new battery with 300+ miles range soon. Tesla battery cooling is patented advanced tech, hence Tesla's advantage.
 

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