Elon Musk apologizes for ignoring analyst questions in classic fashion

Adjust Comment Print

On Wednesday's conference call following Tesla's results, Spak asked a question related to reservations of the Model 3 sedan and Sacconaghi asked a question on the company's capital requirement. "We're going to go as long as there are good questions to answer", he said of the question and answer phase of the call. Musk interrupted the analyst and dismissed his question, indicating that "boring" questions are "not cool".

Musk argues both questioners were "sell-side analysts who represent a short-seller thesis, not investors".

Tesla states on its website that it would roll out the option for the standard battery Model 3 in late 2018, but it was unclear when the company would actually begin production given the delays.

Tesla may still be ironing out the production glitches on the assembly line of its popular Model 3 saloon but that hasn't stopped it from adding a new vehicle to its all-electric range. "Shorting" means they were betting the stock would fall, but the two have "hold" or "neutral' ratings on the stock, according to Thomson Reuters data".

Explaining his decision in a string of tweets - which Mr Musk prefaced with a warning to "ignore unless you're interested in a tedious discussion about Tesla stock" - he said that the company was the most shorted stock on the market. By the time Spak had the floor and inquired about the number of reservations for Tesla's Model 3 vehicle, Musk shut it down by saying he simply didn't want to answer "dry" questions. Musk cut off an analyst asking about the company's need to raise additional money from investors. And the future financial needs of the automotive company still remained open.

Short-sellers look for profit by selling borrowed shares with the hope of purchasing them back later at a smaller price.

Islamic State group claims twin Libya bombings
Islamist militants, including some with links to Islamic State in Iraq and Syria (ISIS) and Al-Qaeda, have a presence in Libya. The militants are also widely believed to have sleeper cells in Tripoli and other areas.

Trump's Delay On Tariff Decision Disappoints Regional Steelmakers
Much of the steel and aluminum used to build cars here is imported from Canada . But tariffs are likely to be imposed on steel and aluminum imports from Japan.

The Game Explains Why He Stands By Kanye West Despite Recent Behavior
As noted, West remains an important part of adidas' strategy. "That's pretty much the party line at this stage", he said. I haven't had any conversation with Kanye within the last 24 hours, to be honest, because we have the earnings around.

Also see: The price of Musk cutting off analysts?

In the call, Musk devoted 23 minutes in taking questions from a 25-year-old Tesla investor, Galileo Russell, who owns an YouTube investment channel called HyperChange TV.

Tesla shares to lost more than five percent after the call.

The Model Y will be the new entry level model of Tesla after its launch and it is based on the same platform of Model 3.

Sacconaghi wrote in a note on Thursday that "we do worry that such theatrics will unnecessarily undermine investor confidence in Tesla's outlook".

Comments