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.”
The 2 questioners I ignored on the Q1 call are sell-side analysts who represent a short seller thesis, not investors
— Elon Musk (@elonmusk) May 4, 2018
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.
Reason RBC question about Model 3 demand is absurd is that Tesla has roughly half a million reservations, despite no advertising & no cars in showrooms. Even after reaching 5k/week production, it would take 2 years just to satisfy existing demand even if new sales dropped to 0.
— Elon Musk (@elonmusk) May 4, 2018
Shares of the California-based company were up 1.6% to US$288.85 in morning trading.
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