Elon Musk hits back after ditching 'boneheaded' analyst queries on results call

Elon Musk hits back after ditching 'boneheaded' analyst queries on results call

Amidst the firestorm of criticism from various media outlets followed by a steep dive of Tesla stock (NASDAQ:TSLA), Elon Musk has gone on Twitter to explain what exactly happened during the recently-held and now-controversial Q1 2018 earnings call.

Days after the Tesla boss shocked Wall Street by completely dismissing critical questions from two analysts as "boring", Musk said on Friday it was "foolish of me" to ignore the queries.

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

Musk opted to explain his side on Twitter early Friday. That's quite interesting given the company is still facing difficulties with the Model 3 production. The SUV crossover will likely be produced at a new factory that would be announced towards the end of this year. "They're killing me", he said before moving on from Spak and Sacconaghi's questions.

"As soon as the Model 3 gets out to the masses, you're going to see the public view of this investor's view of this story is going to turn more positive", he said.

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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.

However, the firm likes to shuffle its powertrain offerings around often and without warning, so however the Model 3 line-up looks in 2019, it is likely to be replicated by the first Model Ys. Fresh design cues from the Model 3 such as the flat, grille-free front end could also define the new auto. Tesla has reportedly sent out a Request for Information (RFI) about Model Y parts to component suppliers. But that's no reason to hand the call over to a blogger from YouTube for a dozen questions that spanned 23 minutes, which is what Musk did. Musk was criticized for cutting off two analysts that asked about the electric vehicle and solar panel company's cash needs and orders for its Model-3.

"We would consider Mr. Musk's at times unfiltered approach as part of the price to be paid for Elon's visionary genius", Efraim Levy, a CFRA Researach analyst, wrote to clients on Thursday.

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. With management's past failures regarding cash flow and profitability, many are skeptical that Tesla will hit its targets for the second half of the year.

Tesla posted a net loss of $710 million on $3.41 billion in revenue for the January-March quarter.

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