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Tesla Daily: Tesla News & Analysis

Chief Accounting Officer Resigns, Executive Shakeups, Impressions of the Joe Rogan Interview (09.10.18)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tech News, Technology, News

4.81.1K Ratings

🗓️ 10 September 2018

⏱️ 12 minutes

🧾️ Download transcript

Summary

– Tesla’s new Chief Accounting Officer resigns
– More executive shakeups
– Discussion of Joe Rogan’s interview of Elon Musk

Links:
Email > tesladailypodcast@gmail.com
Twitter > @teslapodcast
Patreon > patreon.com/tesladailypodcast

Executive producer Jerome Jorden
Executive producer Rob Gill
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock

The post Chief Accounting Officer Resigns, Executive Shakeups, Impressions of the Joe Rogan Interview (09.10.18) appeared first on TechCast Daily.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to the Monday September 10th, 2018 edition of Tesla Daily on

0:11.0

official Tesla Podcast.

0:12.5

My name is Rob Hour.

0:13.5

Today we're talking about some more reaction from the Joe Rogan Podcast, as well as the

0:16.5

departure of a couple executives from Tesla.

0:19.0

Tesla stock on Friday finished down 6.30% to $263.24, this compared to the NASDAQ down 0.25%.

0:27.1

You may remember in the pre-market on Friday, Tesla was only down about 1%.

0:31.0

Shortly after I recorded that episode on Friday morning, the news broke that

0:34.5

Tesla's new chief accounting officer Dave Morton had resigned after just one

0:38.5

month on the job. A lot of the headlines out there associated the big drop that we saw on Friday which at one point

0:44.1

Tesla was down nearly as much as 10% on the day and the headlines associating that

0:48.0

drop with Elon's appearance on the Joggin podcast and the use of marijuana. It was pretty clear from the pre-market

0:53.9

that that had a slight negative impact when the stock was down one one and a half

0:57.0

percent but when the 8K came out regarding the resignation of Dave Morton that is

1:01.2

when the stock pretty much immediately dropped to down around 6%.

1:04.4

I certainly don't think the other headlines around Elon that day helped with the stock price movement, but it didn't seem to be the main factor driving it.

1:11.5

Looking at the resignation then, obviously one month on the job

1:14.8

is probably not what Tesla had in mind

1:16.4

when they hired Dave Morton.

1:17.7

But the timing is interesting.

1:19.5

We've talked previously about Dave Morton's experience

1:22.1

at Seagate, a company which went private and then went public, while Dave Morton was at the company and serving in financial roles.

...

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