Economy

Musk says don't buy Tesla, goes to YouTube as call devolved

Musk says don't buy Tesla, goes to YouTube as call devolved

Mr Musk, who's been known for his quirky behaviour, came under scrutiny after the conference call for Tesla's quarterly earnings on Wednesday went awry.

Musk said the underlying software technology will be ready by the end of next year, but still has a way to go, according to a transcript of the call.

Musk believes the two analysis he rebuked - RBC Capital Markets' Joseph Spak and Bernstein's Toni Sacconaghi - were asking questions created to stoke a short-selling frenzy.

A small hedge fund manager who has always been betting against Tesla Inc TSLA.O on Thursday redoubled his call for the stock to fall to zero, comments that came as investors were already hammering the electric vehicle maker.

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.

"The 2 questioners I ignored on the Q1 call are sell-side analysts who represent a short seller thesis, not investors", he tweeted.

Sacconaghi fired back at Musk Thursday, telling CNBC: "This is a financial analyst call, this is not a TED talk".

More news: Dallas Cowboys legend Jason Witten makes shock move

Elon Musk: We're going to go to YouTube, sorry.

"Responding to a suggestion that the analysts - whose questions he had earlier described as "neither valid nor pertinent" - should have been filtered out before they even got a chance to ask a question, he agreed".

As NPR's Sonari Glinton reports, investors are getting nervous about the production delays in Tesla's most affordable model, and the company's stock has been volatile.

"Please ignore this thread unless you're interested in a tedious discussion about Tesla stock", Musk starts.

Spiegel is not the only one betting against Tesla, with the stock listed as the biggest USA equity short, according to financial analytics firm S3 Partners. "Boring, bonehead questions are not cool".

"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".


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