Tesla shares bounce as Musk risk seen as overblown

Alliance Bernstein analyst Toni Sacconaghi, Jr. said

much of the pressure on Tesla shares over the last month has been due to the sense Musk is "running wild and can't be contained" following a patch of erratic behavior, including a podcast appearance

a

Thursday night in which he smoked marijuana.

"Musk is not your typical CEO," Sacconaghi wrote. "As long as he doesn't self-destruct, we think this is the reality (show) of being a Tesla investor."

But, he said, "if Elon and the Board wisely choose to add an executive/'adult in the room' and manage to restrict his twitter/public commentary, it would likely be viewed positively."

Near 1915 GMT, Tesla shares were up 6.5 percent to $280.22, recovering from Friday's selloff prompted by the news of two executive departures and criticism of Musk's pot-smoking podcast appearance.

Read more at: https://phys.org/news/2018-09-tesla-musk-overblown.html#jCp