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Tesla CEO defends his unusual earnings call via Twitter and shares continue to fall

Tesla Inc (NASDAQ:TSLA) reported a narrower-than-expected loss in its first-quarter earnings, but shares of the electric-car company continued to fall as its CEO continued to tweet.

In a post-earnings call, CEO Elon Musk cut off analysts’ questions and told investors to stay away from the stock if they can’t handle volatility.

Sanford Bernstein analyst Toni Sacconaghi asked the CEO about capital requirements.

“Excuse me. Next. Boring, bonehead questions are not cool. Next?” replied Musk, eventually moving on to take questions from Galileo Russel of HyperChange TV, a YouTube investment channel.

Musk took to Twitter to defend his position, saying that the analysts he ignored were “ sell-side analysts who represent a short seller thesis, not investors.”

 

 

Tesla is the biggest short in the U.S. stock market, according to a report by CNBC tweeted by Musk.

In a thread of tweets, Musk said he brushed off the Sanford Bernstein analyst’s question because it was already covered in the first quarter’s newsletter.

An RBC analyst had asked about Model 3 demand, which Musk said was “absurd”, citing half a million reservations despite no advertising or car showrooms.

 

 

Shares of the California-based company were up 1.6% to US$288.85 in morning trading.

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