What Elon Musk Actually Said In The Tesla Earnings Report Conference Call

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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. "They're killing me", Musk said in response to a later question about reservations for the Tesla Model 3 auto, which has been the subject of speculation regarding its production problems.

Although Musk marked both Sacconaghi and Spak as short sellers, the two actually have hold ratings on Tesla's stock capital.

Nord LB analyst Frank Schwope said that Musk's refusal to answer questions or receive criticism was "not very clever" but added that his ability to find new money was still intact.

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Days after Tesla CEO Elon Musk ignored questions from two analysts during a corporate earnings conference call on Wednesday, the South African tech innovator took to Twitter on Friday and admitted to having made a mistake.

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. Musk fired, "Excuse me".

Tesla shares were up slightly (http://www.marketwatch.com/story/elon-musk-acted-like-a-jerk-and-tesla-stock-paid-the-price-2018-05-02) in after-hours trading on Wednesday before the call began but then swung negative. Bears have criticized the firm's excessive cash burn and continued production setbacks, which have led to a series of broken promises from Musk. And the future financial needs of the automotive company still remained open.

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The outspoken performance shocked many analysts, sparked a fall in Tesla's share price and led some to question whether Musk's behavior could risk the company's ability to raise capital. "Next?", Musk said, as he cut off an exchange about capital expenditures. Not all long shares are in stock-lending programs, and given the high short interest at the moment, that leaves just 6.5 million shares for expanded short positions. He declined to answer and labeled the inquiries "boring" and "boneheaded" before switching to questions from a YouTube host representing retail investors.

Musk told investors during the earnings call that Model Y production wouldn't start until "early 2020" at the earliest.

Sacconaghi wrote in a note on Thursday that "we do worry that such theatrics will unnecessarily undermine investor confidence in Tesla's outlook".

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It has outperformed by 22.91% the S&P500.The move comes after 6 months negative chart setup for the $49.46 billion company. California Employees Retirement Systems has invested 0.18% of its portfolio in The TJX Companies, Inc. (NYSE:D).