Tesla Stock Falls On Reports Of Key Executives Leaving

By InnovatorsMarketWatch Pulse

Tesla Motors Inc. (NASDAQ: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. (NASDAQ: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.

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