

Investor's Corner
Tesla (TSLA) plunges 6% amid new executive departures, Musk’s cannabis whiff during podcast
Tesla stock (NASDAQ:TSLA) is down 6% in Friday’s intraday amid reports that the company lost two more executives, with Chief Accounting Officer David H. Morton, Jr. leaving his post after just two months and Chief People Officer Gabrielle Toledano confirming that she would not be coming back from a leave. Today also stands as Tesla VP of Comms Sarah O’Brien’s last official day at the company.
The latest round of executive departures comes after Elon Musk opted to walk away from his initiative to take the company private last month. Tesla noted in a statement to Reuters that Morton opted to depart from the company due to his discomfort with the level of public attention and Tesla’s overall pace of work. Morton is a veteran in the tech sector, serving as the Executive Vice President and Chief Financial Officer of Seagate before starting his employment at Tesla. That said, his experience was probably not a good fit for the electric car maker’s startup culture, which is characterized by its flat organizational structure and its fast pace.
Overall, Morton appears to have parted ways with Tesla amicably, stating that he still believes in the company’s overall mission, as well as its future prospects.
“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 said.
Statements from Chief People Officer Gabrielle Toledano have not been reported as of writing.
Even before the announcement of Morton’s departure, the company’s shares were already seeing a slight decline in Friday’s pre-market trading as reports of Elon Musk’s behavior in a podcast with comedian Joe Rogan emerged. During the 2.5-hr podcast, the two men talked about several topics, from AI to time management to vertical liftoff airplanes and Japanese feudal weapons. At one point, Rogan, who was smoking cannabis, invited Elon Musk to take a puff. Musk did, and the image of the CEO smoking cannabis immediately spread on social media like wildfire.
The latest drop in Tesla’s stock has caused Consumer Edge analyst James Albertine to call for the company to appoint another senior leader to support Elon Musk. Musk has admitted that running an electric car and energy company like Tesla is exhausting, and in an interview with the New York Times last month, Musk stated that anyone who could do a better job can take over for him anytime. Considering the recent stock drop, as well as the apparent effects of Musk’s little cannabis puff to Tesla shareholders, Albertine noted that the time might be right for Tesla’s Board to step in.
“We have been calling for a Co-CEO or COO to assist to codifying the leadership structure and in so doing, the culture at Tesla. We think this is further evidence that the time is now for management and the Board to address these issues,” Albertine said.
The plunge in Tesla’s stock comes just a day after Elon Musk expressed his support for a report estimating the US sales figures for electric cars currently available in the United States. The report, which was published by electric car-themed news site InsideEVs, estimated that the Tesla Model 3, Model S, and Model X, were the Top 3 electric cars in the US in August. A report from auto sales tracking website GoodCarBadCar also listed the Model 3 as the 5th best-selling passenger car in America last month, in a list that included mainstream vehicles like the Toyota Camry, Honda Civic, and the Honda Accord.
As of writing, Tesla stock is down 6.64% at $263.13 per share.
Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.
Elon Musk
Tesla investors will be shocked by Jim Cramer’s latest assessment
Jim Cramer is now speaking positively about Tesla, especially in terms of its Robotaxi performance and its perception as a company.

Tesla investors will be shocked by analyst Jim Cramer’s latest assessment of the company.
When it comes to Tesla analysts, many of them are consistent. The bulls usually stay the bulls, and the bears usually stay the bears. The notable analysts on each side are Dan Ives and Adam Jonas for the bulls, and Gordon Johnson for the bears.
Jim Cramer is one analyst who does not necessarily fit this mold. Cramer, who hosts CNBC’s Mad Money, has switched his opinion on Tesla stock (NASDAQ: TSLA) many times.
He has been bullish, like he was when he said the stock was a “sleeping giant” two years ago, and he has been bearish, like he was when he said there was “nothing magnificent” about the company just a few months ago.
Now, he is back to being a bull.
Cramer’s comments were related to two key points: how NVIDIA CEO Jensen Huang describes Tesla after working closely with the Company through their transactions, and how it is not a car company, as well as the recent launch of the Robotaxi fleet.
Jensen Huang’s Tesla Narrative
Cramer says that the narrative on quarterly and annual deliveries is overblown, and those who continue to worry about Tesla’s performance on that metric are misled.
“It’s not a car company,” he said.
He went on to say that people like Huang speak highly of Tesla, and that should be enough to deter any true skepticism:
“I believe what Musk says cause Musk is working with Jensen and Jensen’s telling me what’s happening on the other side is pretty amazing.”
Tesla self-driving development gets huge compliment from NVIDIA CEO
Robotaxi Launch
Many media outlets are being extremely negative regarding the early rollout of Tesla’s Robotaxi platform in Austin, Texas.
There have been a handful of small issues, but nothing significant. Cramer says that humans make mistakes in vehicles too, yet, when Tesla’s test phase of the Robotaxi does it, it’s front page news and needs to be magnified.
He said:
“Look, I mean, drivers make mistakes all the time. Why should we hold Tesla to a standard where there can be no mistakes?”
It’s refreshing to hear Cramer speak logically about the Robotaxi fleet, as Tesla has taken every measure to ensure there are no mishaps. There are safety monitors in the passenger seat, and the area of travel is limited, confined to a small number of people.
Tesla is still improving and hopes to remove teleoperators and safety monitors slowly, as CEO Elon Musk said more freedom could be granted within one or two months.
Investor's Corner
Tesla gets $475 price target from Benchmark amid initial Robotaxi rollout
Tesla’s limited rollout of its Robotaxi service in Austin is already catching the eye of Wall Street.

Venture capital firm Benchmark recently reiterated its “Buy” rating and raised its price target on Tesla stock (NASDAQ: TSLA) from $350 to $475 per share, citing the company’s initial Robotaxi service deployment as a sign of future growth potential.
Benchmark analyst Mickey Legg praised the Robotaxi service pilot’s “controlled and safety-first approach,” adding that it could help Tesla earn the trust of regulators and the general public.
Confidence in camera-based autonomy
Legg reiterated Benchmark’s belief in Tesla’s vision-only approach to autonomous driving. “We are a believer in Tesla’s camera-focused approach that is not only cost effective but also scalable,” he noted.
The analyst contrasted Tesla’s simple setup with the more expensive hardware stacks used by competitors like Waymo, which use various sophisticated sensors that hike up costs, as noted in an Investing.com report. Compared to Tesla’s Model Y Robotaxis, Waymo’s self-driving cars are significantly more expensive.
He also pointed to upcoming Texas regulations set to take effect in September, suggesting they could help create a regulatory framework favorable to autonomous services in other cities.
“New regulations for autonomous vehicles are set to go into place on Sept. 1 in TX that we believe will further help win trust and pave the way for expansion to additional cities,” the analyst wrote.
Tesla as a robotics powerhouse
Beyond robotaxis, Legg sees Tesla evolving beyond its roots as an electric vehicle maker. He noted that Tesla’s humanoid robot, Optimus, could be a long-term growth driver alongside new vehicle programs and other future initiatives.
“In our view, the company is undergoing an evolution from a trailblazing vehicle OEM to a high-tech automation and robotics company with unmatched domestic manufacturing scale,” he wrote.
Benchmark noted that Tesla stock had rebounded over 50% from its April lows, driven in part by easing tariff concerns and growing momentum around autonomy. With its initial Robotaxi rollout now underway, the firm has returned to its previous $475 per share target and reaffirmed TSLA as a Benchmark Top Pick for 2025.
Elon Musk
Tesla blacklisted by Swedish pension fund AP7 as it sells entire stake
A Swedish pension fund is offloading its Tesla holdings for good.

Tesla shares have been blacklisted by the Swedish pension fund AP7, who said earlier today that it has “verified violations of labor rights in the United States” by the automaker.
The fund ended up selling its entire stake, which was worth around $1.36 billion when it liquidated its holdings in late May. Reuters first reported on AP7’s move.
Other pension and retirement funds have relinquished some of their Tesla holdings due to CEO Elon Musk’s involvement in politics, among other reasons, and although the company’s stock has been a great contributor to growth for many funds over the past decade, these managers are not willing to see past the CEO’s right to free speech.
However, AP7 says the move is related not to Musk’s involvement in government nor his political stances. Instead, the fund said it verified several labor rights violations in the U.S.:
“AP7 has decided to blacklist Tesla due to verified violations of labor rights in the United States. Despite several years of dialogue with Tesla, including shareholder proposals in collaboration with other investors, the company has not taken sufficient measures to address the issues.”
Tesla made up about 1 percent of the AP7 Equity Fund, according to a spokesperson. This equated to roughly 13 billion crowns, but the fund’s total assets were about 1,181 billion crowns at the end of May when the Tesla stake was sold off.
Tesla has had its share of labor lawsuits over the past few years, just as any large company deals with at some point or another. There have been claims of restrictions against labor union supporters, including one that Tesla was favored by judges, as they did not want pro-union clothing in the factory. Tesla argued that loose-fitting clothing presented a safety hazard, and the courts agreed.

(Photo: Tesla)
There have also been claims of racism at the Fremont Factory by a former elevator contractor named Owen Diaz. He was awarded a substantial sum of $137m. However, U.S. District Judge William Orrick ruled the $137 million award was excessive, reducing it to $15 million. Diaz rejected this sum.
Another jury awarded Diaz $3.2 million. Diaz’s legal team said this payout was inadequate. He and Tesla ultimately settled for an undisclosed amount.
AP7 did not list any of the current labor violations that it cited as its reason for
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