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tinyfav.com May 22, 2018


Elon Musk isn't backing down despite weird remarks in Tesla call

05 May 2018, 01:50 | Melanie Burgess

Elon Musk goofed, but the Tesla CEO is unlikely to change

Musk defends cutting off 'short seller thesis' analysts

The questions were "neither valid nor pertinent", Musk tweeted, urging people to ignore the thread unless they were interested in "a tedious discussion about Tesla stock".

The outspoken Musk's treatment of RBC Capital Markets' Joseph Spak and Bernstein's Toni Sacconaghi roiled Wall Street and sent Tesla's shares down 5 percent on Thursday.

"I should have answered their questions live". But that's no reason to hand the call over to a blogger from YouTube for a dozen questions that spanned 23 minutes, which is what Musk did. He decided instead to take questions from a Tesla investor and Musk acolyte.

As NPR's Sonari Glinton reports, investors are getting nervous about the production delays in Tesla's most affordable model, and the company's stock has been volatile.

Tesla CEO Elon Musk took to Twitter Friday morning to once again confront skeptics of his company. "Do not buy it if volatility is scary". "They're killing me", he said before moving on from Spak and Sacconaghi's questions.

That task may be complicated by the past few days.

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Tesla will need to raise more money in the near future to meet its cash needs, the credit rating agency claimed.

While Tesla is seen by most as a "story stock" - meaning that its value is mostly linked to its future potential and all the products in its pipeline rather than its current financial results, historically, Tesla had its biggest stock price increases after reporting a profit.

Levy added that although Tesla management should be "more disciplined publicly", the key to the stock is whether Tesla can ramp up production of the Model 3, its mass-market electric auto. While Musk acknowledged he erred by ignoring questions, he also reinforced his criticism of the analysts. "Next. Boring questions are not cool".

However, his justification for calling out the other analyst speaks to how much work Tesla still has in front of it. Musk argues it would be impossible to fulfill existing Model 3 orders even if production goals are met, due to high demand.

Musk rested his case with a parting shot and a warning to his critics. "Flamethrowers should arrive just in time".



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