Elon Musk defends frustration in Tesla conference call

Elon Musk defends frustration in Tesla conference call

However, CEO Elon Musk said during Tesla's first quarter earnings call Wednesday that production of the Model Y will likely start in 2020.

Tesla's (TSLA) earnings call was moving along about as normally as a Tesla earnings call could (http://www.marketwatch.com/story/elon-musk-acted-like-a-jerk-and-tesla-stock-paid-the-price-2018-05-02) when Bernstein analyst Toni Sacconaghi asked about the company's capital requirements. "The other, asked by an analyst from RBC, prompted an even stronger response, with Musk stating that 'These questions are so dry, they're killing me".

Musk's refusal to answer "boring" Wall Street questions about finances sent the electric vehicle maker's shares down as much as 7 percent on Thursday. "It was foolish of me to ignore them", Musk tweeted.

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To Musk's credit, in his erratic tweetstorm that included several tweets to critics and random people on Twitter, he did acknowledge in a tweet that he shouldn't have dismissed the analysts.

Tesla's key metric is hitting 5,00 per week and that their target for Model 3 production may not happen until late July. The cash burn could put pressure on the company to borrow more or sell additional shares to raise more cash. (AAPL), who stole the position for a short time.

When talking about making a new platform for Model Y, Musk previously said that Tesla will get rid of the 12-volt battery architecture.

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"That has an impact but it's not something that will prevent them from raising capital", Houchois said.

A "vast majority" of the company's manufacturing process is already automated, but Musk seems to be planning to take it to a whole new level. "They are actually on the opposite side of investors", Musk tweeted earlier Friday. Then, unsatisfied with the following question, Musk ended the queue and spent 20 minutes answering product-related questions from a YouTube channel host. The freaky call yielded scathing comments from analysts and at least three brokerages cut price targets on the stock.

Sacconaghi, one of the rebuffed analysts, wrote: "We do worry that such theatrics will unnecessarily undermine investor confidence in Tesla's outlook". Notably, Tesla's stock took a dive Thursday morning after the call.

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The results exceeded Wall Street expectations.

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