NEW YORK, NY / ACCESSWIRE / September 10, 2018 / Tesla and GM were both in the red this past Friday. Tesla shares were shattered as traders learned that CEO Elon Musk had been smoking weed on a podcast. The company also lost two high executives. General Motors saw a sales decline last month which may have caused shares to see red.
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president of automotive. Musk said in an e-mail, "We are about to have the most amazing quarter in our history, building and delivering more than twice as many cars as we did last quarter. For a while, there will be a lot of fuss and noise in the media. Just ignore them. Results are what matter and we are creating the most mind-blowing growth in the history of the automotive industry. Even the Ford Model T, which held the world record for the fastest-growing car in history, didn’t grow as fast in sales or production as the Model 3.”" data-reactid="15">Tesla, Inc. shares closed down 6.30% on Friday. The stock was one of the biggest decliners after several developments shook Wall Street up. First, CEO Elon Musk appeared on comedian Joe Rogan's podcast last Thursday in which he decided to smoke marijuana and drink whiskey. The reaction on Friday was less than pleasant from investors pushing the stock down over 11% at one point. The company's Chief Accounting Officer Dave Morton also said he has resigned, after being less than a month on the job. It was also reported that Tesla's HR director, who has been on leave, is not coming back. Morton stated in a filing, "Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations. This caused me to reconsider my future. 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." Musk announced on Friday that he has promoted Jerome Guillen to
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General Motors Company saw its shares close down 1.37% on Friday on around 13.2 million shares traded. According to a Bloomberg report which cited people familiar with the matter, the company saw its sales decline around 13% in August. This is worse than the expected drop of 7.7%. The automaker is also now not going to disclose its vehicle sales on a monthly basis but a quarterly basis instead. In other news, officials from General Motors as well as Tesla and vehicle charging station companies had a panel
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