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Elon Musk Smoking Cannabis On Joe Rogan Didn’t Affect Tesla Shares For Long

Elon Musk appeared as a special guest on The Joe Rogan Experience podcast last week. When Rogan lit up a tobacco-cannabis hybrid cigarette – often referred to as a butt – after two hours of interview, he assumed Musk would decline due to the inevitable backlash from Tesla and SpaceX shareholders.

“I mean, it’s legal, right?” Musk responded before observing the ‘blunt’ and taking a small puff. It appeared that he, like Bill Clinton before him, did not even inhale.

Joe Rogan is a well-known cannabis enthusiast and has been since before the stigma of being a ‘pothead’ started to fade. Musk, on the other hand, admitted he had tried marijuana on one single occasion, but his decision to give it another try proved to be disastrous, if only for one day.
After Musk’s short-lived cannabis moment went viral, Tesla’s shares fell by 6.3%, proving that there is still a taboo when it comes to smoking marijuana recreationally. The pair had been drinking whiskey throughout the entire podcast but the 10-second weed moment stole the show.

Elon Musk could have announced some new groundbreaking technology during his long conversation with Rogan and that moment would have still been the talking point on national media. Although cannabis is legal for medical/recreational use in 31 states and D.C., seeing a CEO with the status of Musk smoking marijuana stole the headlines.

The car company’s shares surged 8.46% Monday afternoon after Musk sent an email to workers assuring upcoming record production. The 8.46% increase marked Tesla’s best day since July 16.

“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,” he wrote in the email.

In the second quarter of this year, Tesla boosted production of vehicles by 55% to a record 53,339 cars. In the first quarter, it had only raised the number by 40%.

In the same email, Musk also announced that Kevin Kassekert got promoted to VP of People and Places, replacing Tesla’s CPO, who left the company for personal reasons. Tesla also promoted Jerome Guillen to President of Automotive after eight years with the company, where he will “oversee all automotive operations and program management, as well as coordinate our extensive automotive supply chain.”

According to data from InsideEVs, the month of August saw Tesla’s Model 3 become the fifth best-selling car in the United States by the unit. Despite Musk’s recent unpredictability, Tesla’s success shows no signs of slowing down anytime soon.

Now, we wait to see if that blunt hit led to any new ideas in the mind of Musk.

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