renegadebusdallas.com
renegadebusdallas.com May 26, 2018


Tesla drops in premarket after Musk lets loose on call

05 May 2018, 02:00 | Lionel James

Elon Musk calls out Tesla skeptics in a tweetstorm 2 days after his confrontational earnings call

Tesla’s founder Elon Musk is also behind the SpaceX project to send a spaceship to Mars but he is having trouble getting his electric car business off the ground

Tesla CEO Elon Musk acknowledged it was "foolish" of him to snub a pair of Wall Street analysts during an earnings call that quickly derailed into a circus-like atmosphere.

The call was moving along relatively smoothly until Bernstein analyst Toni Sacconaghi asked about the electric vehicle maker's capital requirements. Tesla's stock price tumbled in after-hours trading during the investor call.

Musk also complained about how much media attention a few fatal accidents involving autonomous features on Tesla's cars are getting.

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

After offering his explanation on Twitter, Musk changed topics and tweeted instead that the next batch of the Boring Company's "Not a Flamethrower" flamethrower would be arriving just in time for the "short burn of the century". Musk's comments may have been enough to assuage them for now.

Dinged-up Celtics beat Bucks in Game 7, advance to play 76ers
Nevertheless, Rozier will have the task of helping carry this Celtics offense, which will be most likely missing Brown. Embiid said Erving's message in the video on Monday morning referenced the intensity of the Celtics-Sixers rivalry.

Musk suggested that the reason he dismissed the questions was because the analysts didn't have "buy" ratings on Tesla stock.

"I'm not here to convince you to buy our stock", Musk said. "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. He goes on to explain how investors have bet against Tesla more than any other firm, "First, it's important to know that Tesla is the most shorted (meaning most bet against) stock on the market & has been for a while". Actually, Musk responded to three separate questions from Tamberrino about the Model 3 and Model Y.

"This is a financial analyst call, this is not a TED talk", the analyst said, adding that Musk's behavior was concerning because it shows he's not interested in the financial side of his "visionary" projects.

There's an easy solution to Tesla CEO Elon Musk's cash-burning problem, according to analyst Gene Munster: He needs to end the Model 3 production problems that have plagued the Silicon Valley automaker.

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 vehicle.



Other News

Trending Now

The Sky Has Fallen as Fortnite Season 4 Begins
If you don't want to invest 75 hours into Fortnite Battle Royale to unlock all of these levels you can buy your way to the top. Keep reading and check out the gallery (below) to discover how to complete this new weekly challenge with minimal fuss.

Yaya Toure: Will leave Manchester City
Considering their successes of recent years, City have yet to find a way to truly celebrate their greats of this golden era. It helps us to keep our performance and play the same way as we have all season.

SA: Xiaomi now the 4th largest smartphone maker globally
China has been the hotbed for smartphone manufacturers, it has been the home ground for players like Huawei , Xiaomi , and Lenovo. The smartphone is still the main hub of the Internet of Things and the market may be approaching somewhat of a saturation point.

Cowboys' Jason Witten retires, heading to ESPN
Garrett attempted to persuade Witten to play another year after meeting with Jones and Witten one day before the 2018 NFL Draft. Witten's 68 receiving touchdowns rank third in franchise history and fifth all-time among National Football League tight ends.

Woods makes first start since Masters at Quail Hollow
Woods is coming off a three-week break, his longest since he returned to the PGA Tour in January, and it was a welcome respite. Peterson holed a bunker shot for eagle, holed a wedge from the fairway for eagle on the next hole, and wound up with a 65.

House of Lords vetoes a 'no deal' Brexit
Sir Keir urged the Prime Minister to accept the cross-party amendment, warning that there was "no majority in Parliament for a no-deal Brexit".

Government 'concerned' by Beijing's South China Sea military build up
A news report aired by CNBC said the YJ-12B anti-ship cruise missiles allowed China to strike vessels within 295 nautical miles. Asked about the report, White House spokeswoman Sarah Sanders said there would be consequences but not what they would be.

Trump Hires Impeachment Counsel Only Weeks After Calling Idea 'Fake News'
Last year, Flood turned down a post on the White House team that ultimately went to Cobb, Reuters reported in July. He insisted that he was "VERY happy" with his team of lawyers, which included Cobb, John Dowd, and Jay Sekulow.

Days After Praising Gowda, Modi Attacks JD-S
PM Modi also trained his guns on CM Siddaramaiah for not formulating a comprehensive mining policy during his time in charge. The campaign against the BJP was unfounded as the party had also made a Dalit, Ram Nath Kovind, the country's President.

Brexit war cabinet mired in trenches over customs plan
The prime minister's spokesman said her views were "evolving" after 60 MPs signed a letter condemning proposals for a customs partnership as "Brexit in name only".