Tesla Inc. chief Elon Musk took to the table Friday, March 30, 2009 Tesla Inc.'s chief earnings call, a bizarre performance that many believe caused.
Reason's RBC question about Model 3 demand is absurd that Tesla has been half a million reservations, despite no advertising & no cars in showrooms. Even after reaching 5k / week production, it would take 2 years to come to an end.
TSLA, + 0.67%
earnings call was moving along as a Tesla earnings call when amber analyst Toni Sacconaghi asked about the company's capital requirements. Musc for him to say that "boring questions" and "asking for the next question."
RBC Capital Markets analyst Joseph Spak, who had started to configure , Musk then announced that he had "got to go to YouTube" and took questions from a blogger who had previously heard Musk's approval to ask on the call via a Twitter campaign. "These questions are so dry," Musk said. "They're killing me."
Musk said in his tweets that the two analysts "represent a short-seller's thesis," though Sacconaghi rates Tesla at market perform and spak rates it at sector perform. He argued that Sacconaghi's "boneheaded" question "had already been answered in the headline of the Q1 newsletter he received, along with details in the body of the letter."
The 2 questioners I ignored on the Q1 call are sell-
– Elon Musk May 4, 2018
Tesla's shares were up slightly in after-hours trading on Wednesday before the call started but then swung negative. Tesla's shares ended up closing down 5.5% in Thursday's session.
The reason the amber question about CapEx was boneheaded what that had it already been in the headline of the Q1 newsletter he received beforehand, along with details in the body of the letter
– Elon Musk (@elonmusk) May 4, 2018
"Investor feedback is that the performance shook confidence, what we argue is an important piece of the Tesla story," Spak wrote the next day.
Tesla shares are down 0.5% over the past 12 months, while the S & P 500
SPX, + 0.17%
has gained 10%.