Sci-tech

Elon Musk To Analysts: Stop With The 'Boring, Bonehead Questions' On Tesla

Elon Musk To Analysts: Stop With The 'Boring, Bonehead Questions' On Tesla

Of particular scorn to Musk were the two analysts he cut off on Tesla's quarterly earnings call on Wednesday - one from Bernstein, and the other from RBC Capital Markets. The freaky call yielded scathing comments from analysts and at least three brokerages cut price targets on the stock. And Musk accurately noted that Tesla is a favorite of short sellers, who bet against stocks.

Even if they did advise clients to steer clear of Tesla's turbulent stock, that wouldn't be a good reason to dismiss their questions outright. Both have a three-star rating out of five stars for accuracy on their coverage of the company, according to Thomson Reuters data. Morgan Stanley's Adam Jonas said it was "the most unusual call I have experienced in 20 years on the sell-side", while Eric Schiffer, head of equity firm Patriarch Organization called it "the single greatest CEO meltdown in American auto history", Reuters reports.

"As soon as the Model 3 gets out to the masses, you're going to see the public view of this investor's view of this story is going to turn more positive", he said. I'm not here to convince you to buy our stock. "It was foolish of me to ignore them", Musk wrote in a tweet Friday morning addressing the call. "Do not buy it if volatility is scary". Tesla's median Wall Street price target is $317. Please sell our stock and don't buy it.

US Treasury Secretary says having good trade conversations in China
Lighthizer said this week that changing the USA relationship with China is "a big, big challenge" that would play out over years. A Chinese foreign ministry spokeswoman confirmed the talks had begun, but did not provide further information.

Excuse me. Next. Boring bonehead questions are not cool. However, if the drop is a result of investor concern over Tesla's capital requirement, the price drop may be permanent until the real question is answered.

He explained that the question from Bernstein's Sacconaghi was "boneheaded" because the topic had already been covered in a shareholder letter.

Tesla has fallen far short of Musk's promises to ramp up Model 3 production, which the company has said is key to turning a profit.

Day of Prayer Thursday at courthouse
Local religious leaders led the group of about 50 people in a series of prayers centering on this year's theme of "Unity". The National Day of Prayer was instituted in 1863 in the midst of the Civil War, the bloodiest war in American history.

Jefferies analyst Philippe Houchois said the underlying business fundamentals were more important in any capital raise, although "management credibility" was also a factor.

Elon Musk dug in with his criticisms of Tesla Inc. analysts, accusing two of promoting ideas that justify shorting the electric-car maker. But he said the 15-year-old Tesla right now is focused on getting Model 3 output to more than 5,000 per week, with a good profit margin per vehicle. "Flamethrowers should arrive just in time", the CEO wrote Friday. If Tesla does run short of cash, big institutional investors such as Fidelity likely will come to the rescue, but that may cause a change at the top, Ramsey said.

Solo: A Star Wars Story Tickets On Sale Tonight!
In 2015, astronauts in the International Space Station (ISS) celebrated Star Wars Day by watching "Revenge of the Sith". The celebration included Original Trilogy Trivia Game Show, parodies, costume contest.


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