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Tesla stock sinks after Musk gives tearful NYT interview 

 

Tesla stock sinks after Musk gives tearful NYT interview

Noel Randewich, Nivedita Balu (Reuters) – Tesla Inc’s (TSLA.O) shares slumped 9 percent on Friday after Chief Executive Officer Elon Musk told the New York Times he was under major emotional stress and was preparing for “extreme torture” from short sellers.Tesla stock was on track for its biggest daily slump in two years as Wall Street questioned Musk’s ability to lead the electric car maker.

Investors also were worried about reports that regulators were pressuring Tesla’s directors for details about how much information he shared with them.

Musk stunned markets last week with a tweet that he was considering taking Tesla private for $420 per share and that he had secured funding. The SEC has opened an inquiry related to his tweets, according to a person with direct knowledge of the matter.

The Times reported that efforts were underway to find a No. 2 executive to take pressure off Musk, who has struggled with production issues for Tesla’s key Model 3 sedan and has been criticized for behaving erratically on Twitter.“

This past year has been the most difficult and painful year of my career. It was excruciating,” Musk said in the hour-long interview, in which he reportedly choked up more than once…

FINISH READING: Tesla stock sinks after Musk gives tearful NYT interview | Reuters






 

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INVESTING

Phivida Appoints Former Red Bull President as CEO

Phivida Appoints Former Red Bull President as Chief Executive Officer

VANCOUVER, B.C. — February 28th, 2018 — Phivida Holdings Inc. (“Phivida” or the “Company”) (CSE: VIDA; OTCMKTS: PHVAF) has appointed Mr. James Bailey as the new Chief Executive Officer (CEO), commencing March 19th, 2018.  As former President of Red Bull Canada, Mr. Bailey stewarded the development of an entirely new category of alternative beverages, an experience which lends great value to Phivida as it prepares to launch into the global market.

Mr. Bailey will be responsible for building Phivida into an internationally recognized brand and replicating his success with building a new alternative beverage sector at Red Bull.

Mr. Bailey also brings proven executive leadership and extensive expertise in brand marketing and athletic endorsement for multinational consumer brands. Under his leadership, Mr. Bailey established Red Bull as the national brand leader in its category and grew annual sales revenue from $0 to over $150 million.

In addition to Red Bull, Mr. Bailey also served as the Chief Marketing Officer for Merrell Outdoors and has senior executive experience with Adidas and Salomon ski equipment…

FINISH READING: Phivida Appoints Former Red Bull President as CEO