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.
"I think, generally speaking, when CEOs are evasive around number questions, that is worrisome... when financial questions are asked, they should be addressed", he added.
"In early-morning tweets on Friday, Musk said the two analysts he cut off - RBC Capital Markets" Joseph Spak and Bernstein's Toni Sacconaghi - "were trying to justify their Tesla short thesis". "Next. Boring questions are not cool".
Tesla Inc Chief Executive Officer Elon Musk said it was "foolish" of him to snub Wall Street analysts on a conference call after earnings on Wednesday.
Tesla also reported a net loss of almost $800 million during the last quarter, as the company grapples with widely reported problems over its inability to efficiently produce Model 3 cars.
Tesla's next model bound for production is the Model Y, a small SUV related to the Model 3. "The other, asked by an analyst from RBC, prompted an even stronger response, with Musk stating that 'These questions are so dry, they're killing me".
US Military C-130 plane crashes near Savannah airport; no survivors — Georgia
We add that the aircraft were based in Puerto Rico and was heading to a military base in Arizona to participate in the exercises. A military C-130 cargo plane crashed Wednesday in Savannah, Ga., a few miles from Savannah/Hilton Head International Airport.
Tesla shares were up slightly (http://www.marketwatch.com/story/elon-musk-acted-like-a-jerk-and-tesla-stock-paid-the-price-2018-05-02) in after-hours trading on Wednesday before the call began but then swung negative. The EV maker claims it doesn't need to raise more funds for capital expenditures. "It was foolish of me to ignore them", he said.
Predictably, Musk's outright dismissal of the above questions didn't exactly inspire faith among investors. They expected Tesla to report a loss of $3.54 per share on revenue of $3.28 billion.
Since the start of 2013, its shares are up more than 700 percent, dwarfing the gain of more than 80 per cent for the broader Standard & Poor's 500-stock index.
Also see: The price of Musk cutting off analysts?
Next, Musk was asked many questions by Galileo Russell, a 25-year-old retail investor, and owner of a YouTube Channel.
Sacconaghi, one of the rebuffed analysts, wrote: "We do worry that such theatrics will unnecessarily undermine investor confidence in Tesla's outlook".