Things just don't look all that great in the near-term. This is only going to hurt their situation. It's still a $46 billion company or something like that, and it doesn't look like they have any real clear path to profitability any time soon. Moser: I'm floored that the stock hasn't gotten punished more than it's gotten punished, to be honest with you.
You can remain an advisor and still be involved in the company, but you need some help at this point. I would hope that Elon Musk, of his own volition, would recognize that maybe this is a time to take a step back. I don't think that would necessarily stop if he is taken out of that role at Tesla, because he still owns a fifth of the company. Kretzmann: As we know, Elon is not shy to voice his opinion on Twitter or podcasts or anywhere else. But even if Elon doesn't have that executive title, if he remains as an advisor, or even if he's disconnected entirely from any operational role at the company, how much autonomy would that new executive have? I do agree, at this point, the board needs to bring in someone new to take over that CEO or operational role. But in a lot of ways, Elon Musk is the brand of Tesla. Elon, obviously, said things that he shouldn't have, did things he shouldn't have. The company, at this point, is between a rock and a hard place. What goes through your mind as you're watching all of this play out?ĭavid Kretzmann: This reminds me of the Papa John's situation that we've seen earlier this summer.
Hill: Shares of Tesla down 11% Friday morning. Absent an easy fix, what do you do without the personality? It's worked for a while, but they've never met those production goals until they started building cars in the parking lot in the tents. They've been flying by the seat of their pants. So, I think one of the risks for investors is that there really are no grownups there, and there haven't been grownups for a long time. If you read the complaint, you see that the CFO was cow-towing and saying, "Well, I know you've probably already thought about all this, but maybe we should have a blog post that explains this?" when it's clear they know he hasn't thought about it at all. Now, it's fairly clear, if you've been watching this at all, high-level executives have been leaving. He's sort of the valuation, the personality. The trouble is, they have their doodle in a ringer here. Seth Jayson: The idea that the stock price needs to be up, or that there has to be confidence in order for them to get some debt funding, they're probably going to run out of cash soon. I think Tesla is pretty much playing out to be the textbook example. We talk about it a lot, leadership being a big reason to invest in a company, yet also a big risk. I think he can still be a part of guiding the company's vision, but clearly, he needs an operator who can get in there and focus on running the company without having to maintain that public presence to keep the stock price propped up. I think he's becoming a liability, as opposed to the asset that he once was. I think investors have to ask themselves the question here, what's worse - Musk staying with the company, or leaving the company? I actually think, at this point, as CEO, he would be very limited in what he's going to be able to do. I think he will probably end up accepting some sort of a deal once he realizes the hole he's dug himself into. It leads me to believe that we will see him change course here. Jason Moser: And that's a distinct possibility. The Must-Read Trump Quote on Social Securityġ0 Reasons Why I'm Selling All of My Apple Stock The $16,728 Social Security Bonus You Cannot Afford to Miss He shares his thoughts on the Lyft and Uber IPOs, Amazon's (NASDAQ: AMZN) innovation trends, the likelihood of Jeff Bezos dumping Amazon for Blue Origin, and more.ģ Stocks That Are Absurdly Cheap Right Nowĥ Warren Buffett Principles to Remember in a Volatile Stock Market Also, this episode features an interview with best-selling author Brad Stone. Hear about these stories, and many more - plus, a sneak peek at the stocks on the analysts' radars. Michael Kors (NYSE: KORS) bought Versace and is slated for a name change.but the company missed at least one critical step there. Vail Resorts (NYSE: MTN) got hit by decreased snowfall, but it's not all stormy weather ahead. What comes next for Tesla (NASDAQ: TSLA)? Nike (NYSE: NKE) reported a solid quarter, but its valuation looks a little rich. The SEC leveraged more than just a wrist slap against Elon Musk for the whole "funding secured" debacle. On this episode of Motley Fool Money, host Chris Hill and analysts Jason Moser, Seth Jayson, and David Kretzmann hit on the week's biggest market news.
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