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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'

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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...

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