Elon Musk hits back on complaints about Tesla's wild earnings call

Elon Musk hits back on complaints about Tesla's wild earnings call

Elon Musk hits back on complaints about Tesla's wild earnings call

Musk exhausted of finance questions, so he cut off an analyst this way: "We're going to YouTube".

Musk's antics on the freaky call pushed the electric vehicle maker's shares down on Thursday, with several analysts making scathing comments and at least three brokerages cutting price targets on the stock. First, Musk stated that the two analysts he opted to ignore were attempting to justify their Tesla short thesis. "And once they were on the call, I should have answered their questions live. The other, asked by an analyst from RBC, prompted an even stronger response, with Musk stating that 'These questions are so dry, they're killing me".

The two analysts were not immediately available for a comment. Moody's dropped Tesla's credit rating in March and changed the company's outlook to negative as the fledgling Model 3's production dwindles while the automaker's financial situation grows dim. On Thursday, the company's shares ended down 5.5%, trading at $284.45. The EV maker claims it doesn't need to raise more funds for capital expenditures. But short sellers, who shorted almost 400,000 shares on Thursday, doubled that amount on Friday, according to financial analytics firm S3 Partners.

Prepare for the Elon Musk version of that.

According to CNCB, "The dollar amount of shares shorted on Tesla increased 28 percent in the last month to $10.7 billion, according to S3 Partners".

CNBC also reports that Musk made a decision to take several questions from a 25-year-old retail investor and owner of a YouTube channel, Galileo Russell, which is unusual because questions on earnings calls are traditionally reserved for analysts, professional investors, and sometimes media.

"That has an impact but it's not something that will prevent them from raising capital", Houchois said.

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"We went through the same drama on S & X, and nearly all confirmed in the end".

The news that Tesla released in its earnings report was "actually super good", Musk said in another tweet.

"HyperChange represented actual investors, so I switched to them", he wrote.

He gave the remaining portion of the earnings call to Tesla investor Galileo Russel, host of the "HyperChange TV" YouTube channel "We're gonna go to YouTube".

He's correct to call the analysts "sell-side", meaning they come from brokerage firms, which earn fees when clients trade stocks.

"Please ignore this thread unless you're interested in a tedious discussion about Tesla stock", Musk starts. But never have his actions caused so much angst on Wall Street.

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