Tesla shares down 8 percent after Musk's freaky interview

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Tesla's stock price slid for a fourth straight day as investors digested reports of a federal securities probe and CEO Elon Musk's emotional interview with the New York Times.

The Times report said he frequently takes Ambien to get to sleep after long workdays and that Tesla's board has become concerned about his use of the drug.

Tesla produced slightly more than 100,000 vehicles past year and the company has been struggling to boost production of its Model 3, which is less expensive than its first models and could help expand Tesla's base. Another adds that now the SEC has also subpoenaed members of Tesla's board of directors to try and find out if and how much they knew about Musk's plans for the company.

Investors must have gotten unnerved.

The ambitious executive has come under fire for apparently making a surprise announcement that Tesla would be going private at $420 per share and funding had been "secured".

In an emotional interview with The New York Times, Musk also revealed that the pressures of work had caused him to spend his birthday stuck in the Tesla factory and nearly miss his brother's wedding.

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Musk revealed in the interview that the latter happened as he was driving himself to the airport and was done without clearance from anyone else on the Tesla team. "Weed is not helpful for productivity", he told the Times. He said he was working a 120-hour week to reach the company's production targets, and admitted: "It is often a choice of no sleep or Ambien". "It was excruciating", Musk said in the hour-long interview, in which he reportedly choked up a few times.

Three new vehicles are in development at Tesla, the Model Y compact SUV, a new $200,000 Roadster and an electric heavy-duty truck that Musk unveiled last November, with production start dates in 2019 and 2020.

The controversy over the August 7 tweet is among several Musk, who also runs aerospace company SpaceX, has weathered this year. It appears that Musk is still dating 30-year-old musician Grimes, but he didn't mention her in the interview, or the drama with the couple and Azealia Banks over the weekend.

Musk is known for odd behavior and controversial statements, but investors have stuck with him and driven Tesla to a higher market value than General Motors. They can have the job. He said his reference to having secured funding referred to a potential investment by Saudi Arabia's government investment fund. "Is there someone who can do the job better?"

That boosted share prices to almost $380, but also spurred questions about Musk's Twitter comment that the funding for the maneuver had been "secured".

Musk also took a swipe at short-sellers who bet against Tesla's stock value and whom he says are "desperately pushing a narrative that will possibly result in Tesla's destruction". Last year, the company only made 2,700 Model 3s, compared with 20,000 predicted by Musk last year.

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