Elon Musk defends cutting off analysts, says they're shorting Tesla

Elon Musk defends cutting off analysts, says they're shorting Tesla

Elon Musk defends cutting off analysts, says they're shorting Tesla

Mr Musk, who's been known for his quirky behaviour, came under scrutiny after the conference call for Tesla's quarterly earnings on Wednesday went awry.

With his pointed comments on social media, Musk is doubling down on the defiant attitude he displayed on Wednesday's earnings call - one that infuriated analysts across Wall Street.

"Please ignore this thread unless you're interested in a tedious discussion about Tesla stock", Musk starts.

Musk's antics on the freaky call pushed the electric vehicle maker's shares down on Thursday, with several analysts making scathing comments and at least three brokerages cutting price targets on the stock.

Tesla boss Elon Musk has defended his comments in a contentious conference call, saying the people he shut down were "sell-side analysts who represent a short-seller thesis, not investors".

But the analysts Musk cut off, RBC Capital Markets' Joseph Spak and Bernstein's Toni Sacconaghi, have a "hold" or equivalent rating on the stock. "Excuse me, next", Musk dismissed the question.

The news that Tesla released in its earnings report was "actually super good", Musk said in another tweet.

Musk also said a question about Model-3 demand was absurd because Tesla reservations far surpass current production levels, noting it'd take two years just to fill existing demand.

Tesla tore through $745.3 million in cash in the quarter, due largely to the slow production ramp-up of the Model 3 mass-market electric sedan. Perhaps by the time Tesla needs more money, Musk's antics will be forgotten, or at least accepted as Elon being Elon.

Musk reflected on two interactions that drew particular criticism. RBC Capital's Joseph Spak then asked about how many Model 3 reservations had been converted into orders for the electric vehicle. Musk explained that the Model 3 already has about half a million reservations, "despite no advertising & no cars in showrooms". "Next. Boring questions are not cool".

"Oh and uh short burn of the century coming soon", he tweeted, a prediction that the stock will rip higher. Short interest - a measure of bets that a stock will drop - sits at a whopping $11 billion, outpacing the next-most-shorted company, Apple, by more than $1.5 billion, according to data compiled by financial analytics firm S3 Partners. "Flamethrowers should arrive just in time".

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