No matter how powerful Musk is, he must pay for his arrogance.
Although Tesla reported better-than-expected quarterly losses and sales, the stock began to dive shortly after the analyst meeting.
After the US stock market on Wednesday, Tesla released its first quarter financial report for 2018. When it was released, Tesla's stock price rose by 2%, but turned more than 1% after an hour and a half. The 3-hour earnings call took Tesla's stock price a roller coaster. After the media revealed that Tesla refused to answer some questions on the call, Tesla's stock price fell further by more than 7.5%.
All this stems from the arrogance of Tesla CEO Elon Musk (Elon Musk).
According to foreign media reports, Musk cut off the analyst's call during the first quarter earnings call. He disdained the Model 3 gross profit margin issue raised by Bernstein senior analyst Toni Sacconaghi, calling it "boring".
"not cool! (This is not cool!) "
Musk expressed his displeasure in the conference call, "If people are so worried about volatility, they should not buy our stocks."
Musk's stock price plummeted after cutting off calls with Wall Street analysts. The company's first-quarter earnings report also sparked concerns about Tesla's cash flow and how to increase profit margins while increasing Model 3 production.
Obviously, Musk, who is arrogant, makes the financial backers very unhappy.
Tesla shares plummeted after cutting off calls with Wall Street analysts.
The company's first-quarter financial report also sparked concerns about Tesla's cash flow and how to increase profit margins while increasing Model 3 production.
Tesla's stock price has fallen 11% so far this year.
Morgan StanleyAnalysts believe that although the analyst's questions on the call may be boring and "boring", this problem is crucial for a company that uses extremely high leverage and extremely expensive money.
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