Published: Sat, May 05, 2018
Economy | By Shawn Conner

Elon Musk goes on Twitter to defend his freakish earnings call behavior

Elon Musk goes on Twitter to defend his freakish earnings call behavior

As it turns out, Tesla spots falling Autopilot use in the wake of each media fiasco, according to a statement by Tesla CEO Elon Musk in the company's first quarter conference call, as transcribed by Electrek.

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.

"I should have answered their questions live".

To a question about the Tesla Model 3, which has had a slower-than-expected rollout, Musk replied: "These questions are so dry".

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His actions had immediate consequences. Both analysts were not immediately available for a comment on Musk's tweets.

"We have no interest in satisfying the desires of day traders", Musk said Wednesday.

Yet the Tesla CEO also mounted a defense of the call that may raise even more questions about his handling of the situation, which continues to overshadow the company's actual results.

Musk is now on damage control, attempting to justify his unusual behavior in an unfiltered tweetstorm.

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Musk suggested that the two questioners he ignored on the Q1 call "are sell-side analysts who represent a short-seller thesis, not investors".

"Please ignore this thread unless you're interested in a tedious discussion about Tesla stock", Musk starts. During the 12 following months, Tesla's stock price increased by 461% - much of which was attributed to a short squeeze after Tesla reported its first quarterly profit in Q1 2013.

The chief executive was criticised for cutting off two analysts who asked about the electric vehicle and solar panel company's cash needs and orders for its Model-3.

"Reason RBC question about Model 3 demand is absurd is that Tesla has roughly half a million reservations, despite no advertising & no cars in showrooms. Even after reaching 5k/week production, it would take 2 years just to satisfy existing demand even if new sales dropped to 0".

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