India  
NewsR.in
> >

Why Has Elon Musk’s Latest Earnings Call Lost Tesla a Stack of Stock Market Value?

One News Page Staff Saturday, 5 May 2018
Why Has Elon Musk’s Latest Earnings Call Lost Tesla a Stack of Stock Market Value?by 👨‍💻 Graham Pierrepoint

Elon Musk has hardly been out of the news these past few months – whether it’s sending a car and dummy into space or juggling the up and down fortunes of Tesla (which continues to concern investors and shareholders after struggling to turn a profit thus far, and failing to meet certain production and delivery targets), the prominent entrepreneur is one who isn’t afraid to say what he thinks, and think massively outside of the box. However, if a recent earnings call with market analysts was anything to go by, things could be set to go from quirky to very, very strange indeed – to the extent that Tesla’s stock value plummeted, albeit temporarily, apparently in response to some of the comments the CEO made with regard to certain questions.

Many moments on a recent call between Musk and representatives from the likes of RBC and Sanford Bernstein have been analyzed as some of the strangest that have come forward under such circumstances – with one highlight being Musk referring to a question regarding capital requirements of Tesla as ‘boring’, ‘bonehead’ and ‘not cool’ – before refusing to answer in a rather flippant fashion. Joseph Spak, querying on behalf of RBC, asked Musk about Tesla Model 3 reservations – with the CEO responding, “We’re going to go to YouTube. Sorry. These questions are so dry. They’re killing me.” Musk’s insistence on there being ‘good questions’ and that he continued answering ‘interesting’ questions from a Youtuber as opposed to certain representatives came off as very strange indeed – and the stock market has hardly been forgiving in light of the bizarre conference session. “I’m not here to convince you to buy our stock – do not but it if volatility is scary,” the CEO responded to questioning regarding the goals he has set for Tesla.

Musk Roasts 'Boring, Boneheaded' Analysts on Tesla Call
Watch: Musk Roasts 'Boring, Boneheaded' Analysts on Tesla Call

Tesla reportedly lost share values of up to 7% in response to Musk’s responses on the call, which means that this latest set of moments have done little to draw confidence from those who continue to invest in his car manufacturing unit. It is the latest in a series of bizarre events and headline-grabbing moments that have seen Musk criticized and stepped away from by various bodies – and while targets and further quarters may be looming, the entrepreneur is still confident that Tesla will make it out of the year in good shape. Let’s wait and see what happens next!

Tesla Snubs Analysts On Call, Says 'Boring Questions Are Not Cool'
Watch: Tesla Snubs Analysts On Call, Says 'Boring Questions Are Not Cool'

0
shares
ShareTweetSavePostSend
 
Credit: Cheddar Inc. - Published < > Embed
News video: Was Tesla CEO Elon Musk's Earnings Call Too Combative?

▶ Was Tesla CEO Elon Musk's Earnings Call Too Combative? 02:06

Musk got a lot of backlash for his earnings call Wednesday, in which he dismissed questions from analysts as "boring" and "dry." But that's because Musk realizes that the quality of questions from analysts isn't high or meaningful for long-term investors, says Galileo Russell, one of the reporters...

You Might Like


Tweets about this

Struthers72

Tom Fabek RT @JimHarris: WOW! Toyota’s latest US sales: Camry sales fell 22% & Prius -23% in July 2018 vs July 2017: https://t.co/qDiWaXkZMW Forbes B… 1 week ago


Other recent news in Business

UK PM May to brief 150 CEOs on BREXIT negotiations on Friday - FTRELIANCE INDUSTRIES halts Iranian oil imports ahead of US sanctions
TATA GROUP in talks to buy stake in Jet Airways - Times of IndiaDanske Bank forced to resume CEO SEARCH after regulator's rejection

Recent related videos from verified sources

Tesla Says Elon Musk Plans To Buy $20 Million Worth Of Stock As Soon As Possible [Video]Tesla Says Elon Musk Plans To Buy $20 Million Worth Of Stock As Soon As Possible 00:39

Tesla CEO Elon Musk will reportedly buy $20 million worth of the company's stock on the open market. The plans were revealed the day after a judge approved Tesla and Musk's combined $40 million..

Credit: Wochit Business - Published

Tesla Surges After Judge Approves Elon Musk's Settlement With SEC [Video]Tesla Surges After Judge Approves Elon Musk's Settlement With SEC 00:49

Tesla rallied as much as 5% Tuesday morning. A judge approved CEO Elon Musk's settlement over a fraud charge with the Securities and Exchange Commission. The SEC sued Musk, accusing him of making..

Credit: Wochit News - Published

Is Tesla Too Big To Fail? [Video]Is Tesla Too Big To Fail? 00:42

Matthew DeBord is a writer for Business Insider. The following views belong to him. Tesla has been blistered by criticism for months, but the company and CEO Elon Musk are still standing. Tesla..

Credit: Wochit - Published

Stock Picks For This Unsettled Market [Video]Stock Picks For This Unsettled Market 07:43

The market has been on a roller coaster ride this week. And whether it's interest rates, tariffs or the market just needing to give back a little of the gains we have been experiencing, it's important..

Credit: The Street - Published

•More original news reports from newsR
Environmentally friendly: newsR is hosted on servers powered solely by renewable energy
© 2018 newsR / One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest