Musk defends cutting off analysts during conference call
06 May, 2018, 00:06 | Author: Salvatore Jensen
"It's high time we became profitable", said Musk, who also promised restructuring this month to achieve profit goals.
During Wednesday's call, Spak asked about customer reservations for the Model 3 sedan, while Sacconaghi wanted to know about Tesla'scapital requirements.
"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. But neither can be said to "represent a short seller thesis, not investors", as Musk wrote on Twitter.
Musk's failure to answer questions from the analysts about Tesla's finances caused the stock to go down by 5.6 percent on Thursday.
TeslaCEO Elon Musk on Wednesday made another round of headlines after a handful of contentious exchanges with analysts during an earnings report conference call.
"Reason [the other] question about Model 3 demand is absurd is that Tesla has roughly half a million reservations, despite no advertising & no cars in showrooms", he continued. "They're killing me", he said moments later. The executive has been critical in the past of investors who "short" Tesla shares, meaning they are betting that the stock will decline.
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.
The Model Y will be the new entry level model of Tesla after its launch and it is based on the same platform of Model 3. 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. Musk also noted that there are "really big numbers" involved.
Quite recently, Tesla's QI earnings slowed down with a less than expected share drop.
Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours. Then, unsatisfied with the following question, Musk ended the queue and spent 20 minutes answering product-related questions from a YouTube channel host.
Sacconaghi, one of the rebuffed analysts, wrote: "We do worry that such theatrics will unnecessarily undermine investor confidence in Tesla's outlook".
A miner has died at a Sibanye-Stillwater mine outside Johannesburg after a seismic event‚ the company said . It called for "more serious intervention" to take place at Sibanye Stillwater operations in South Africa.
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Justice Joseph's name for elevation to top court was recommended by the collegium at its January 10 meeting. While Malhotra was elevated to be Justice Malhotra, Justice Joseph was not appointed to the Supreme Court .
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China lays claim to a number of disputed islands and territories, which often results in touchy situations during routine drills. On Thursday, White House Press Secretary also warned of "consequences" over the ongoing military buildup.
Even if Tesla isn't willing to offer easier and more flexible ways to get one, other vehicle companies surely will. The short answer is that, from a technical standpoint, Tesla will be ready by the end of next year, Musk said.
Shares of LUV stock opened at $52.24 on Friday. (NYSE:LUV) has been observed as trading -14.93% away from its 90-day high price. We track Facebook likes for all major brands, Southwest Airlines included. (NYSE:NSP) rating on Monday, September 11.
Last year, there were rumours and speculations that Flipkart would buy Snapdeal, but the deal officially ended around mid-2017. Sachin Bansal, 36 and Binny Bansal 35, who became friends as colleagues in Amazon had started Flipkart in 2007.
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