Tesla Stock Falls On Reports Of Key Executives Leaving

By Markets MarketWatch Pulse

Tesla Motors Inc. (TSLA) shares added to losses Wednesday following news reports saying that at least one executive is leaving the company. Greg Reichow, Tesla's vice president of production, will take a leave of absence, a rival news organization reported, citing a Tesla spokesperson. The VP of manufacturing, Josh Ensign, is also slated to depart, according to a Bloomberg report. Also on Wednesday, investor Jim Chanos said he was short on the company stock and also on solar installer SolarCity Corp. (SCTY) , where Tesla's Chief Executive Elon Musk is the chairman. Shares of Tesla were off 4%, bringing weekly losses so far to more than 7%, and SolarCity shares were down 2.5%. Tesla is slated to report first-quarter results after the bell Wednesday, and some on Wall Street predicted a wider-than-expected quarterly loss for the Silicon Valley electric-car maker.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.

What do you think?

Click the button below to comment on this article.