Chief executive Elon Musk's freaky tantrums during the call caused an 8% decline in the company's stock price.
Tesla's (TSLA) earnings call was moving along about as normally as a Tesla earnings call could (http://www.marketwatch.com/story/elon-musk-acted-like-a-jerk-and-tesla-stock-paid-the-price-2018-05-02) when Bernstein analyst Toni Sacconaghi asked about the company's capital requirements. Well, to be fair, Musk didn't so much as refuse to answer the question as he mocked the analyst for broaching it in the first place. Next, next. Boring questions are not cool.
Musk claims that the questions that were ignored were from short-sellers "who were trying to justify their Tesla short thesis".
Tesla's primary business is electric cars, although it also makes batteries for home... For one, there is concern Tesla won't be able to maintain demand for the Model 3, because of production issues that have stalled deliveries.
Elon Musk made headlines yesterday after opting to ignore questions from two analysts.
Today, with Tesla's stock price having plummeted then gradually regained its momentum, Musk is defiant.
Following Musk's initial tweets, a user replied to let him know that he could just block analysts in the queue if he knew beforehand that they'd ask negative questions, to which Musk replied that that was "true". Elon Musk, CEO of Tesla Motors confirmed during an investor earning call that the company will begin production of smaller Model Y only in 2020. By the time Spak had the floor and inquired about the number of reservations for Tesla's Model 3 auto, Musk shut it down by saying he simply didn't want to answer "dry" questions.
According to CNCB, "The dollar amount of shares shorted on Tesla increased 28 percent in the last month to $10.7 billion, according to S3 Partners".
Although Musk has insisted the company neither needs nor wants new funding, many believe the company will seek to raise more capital by the end of 2018. If his account checks out, it's not hard to see why Musk would be annoyed. "We wonder what spending is deferred and for how long", CFRA analyst Efraim Levy wrote in a note to investors. On the call, he devoted 23 minutes to 25-year-old Tesla investor, Galileo Russell, who runs HyperChange TV.