Tesla stock price: Is Elon Musk heading for Tesla exit like Steve Jobs and Apple?

Elon Musk has hit headlines in recent months following a series of high-profile incidents. 

The business magnate is worth a staggering $20.8 billion (£15,852,304,000.00) and is also CEO, founder and lead designer of aerospace manufacturer SpaceX. 

In recent months Musk has hit the headlines for Tweeting about taking Tesla private, calling a British cave diver a paedophile, appearing to smoke marijuana while taking part in a podcast and revealing his use of Ambien to help him sleep. 

These incidents have come during a turbulent time for Tesla.

Stock value in Tesla has been dropping since Musk tweeted on August 7 about taking the company private.

On Tuesday, August 7 stock in Tesla was valued at $379.57 (£289.39). This plunged to just $263.24 (£200.70) on Friday, September 7. It has since risen slightly. 

Adding to declining stock prices was the resignation of Chief Accountant Dave Morton earlier this month. 

Mr Morton said: “The level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations. 

“As a result, this caused me to reconsider my future.” 

At the time of writing Tesla was trading at $297.43 (£226.77).

Is Elon Musk heading for an exit from Tesla? 

Shareholders may have begun to lose faith in Musk as CEO of Tesla but he is unlikely to be ejected from his position. 

Some Tesla fans are determined to stand by the company and Musk regardless of what happens. 

Critics, on the other hand, seem determined to see Musk fail. 

It’s these critics who are triggering Tesla shorts – a system where people bet against Telsa, in favour of share prices falling. 

Tesla’s board is made up of many Musk allies, including his own brother, and they have stood by the CEO. 

Earlier this year a shareholder vote to oust Musk as chairman failed, and the inner workings of Tesla mean that he has outsized control of the auto company.

The board of directors has faced criticism for failing to keep Musk in check, one problem being his failure to answer questions from analysts regarding a Tesla earnings call. 

There are nine members of Tesla’s board of directors, including Musk’s brother Kimbal Musk, 21st Century Fox CEO James Murdoch, and early Tesla investor and Valor Management head Antonio Gracias. 

All three faced an attempt of removal by a group of shareholders this year. 

Another shareholder also introduced a resolution calling for Tesla to split the jobs of chairman and CEO so that Musk would just keep the chief executive spot.

The New York Times reported this month that Musk’s tweet about privatisation angered board members, alongside worries over his workload and use of sleeping medication Ambien, but none have publicly declared so.