Elon Musk isn't backing down despite weird remarks in Tesla call

Randal Sanchez
May 6, 2018

However, despite their bets and Elon Musk's "Bonehead" call tweet, the top 3 ETFs with Tesla exposure are up.

"We're going to YouTube", the CEO said, turning to questions from users of the video sharing site. Bears have criticized the firm's excessive cash burn and continued production setbacks, which have led to a series of broken promises from Musk.

"Clearly, he seems tired and frustrated, and this is the wrong time to lash out at the investor community", James Albertine, an analyst with Consumers Edge Research, said on Bloomberg Television. The EV maker claims it doesn't need to raise more funds for capital expenditures.

What's going on with the Model 3? "Next?" Shortly thereafter, analyst Joseph Spak of RBC Capital Markets asked a question about Model 3 reservations, Musk punted altogether and opted to take a question via YouTube.

The spat comes at a crunch time for Tesla when it is struggling to ramp up production of its Model 3 sedan, on which its profitability depends.

"We went through the same drama on S & X, and nearly all confirmed in the end".

"We have temporarily dialed back automation and introduced certain semi-automated or manual processes while we work to eventually have full automation take back over", the company said. Excluding one-time expenses such as stock-based compensation, the company lost $3.35 per share. Analysts polled by FactSet expected an adjusted loss of $3.54 per share.

Pyongyang Time is no more, North Korea syncs clocks with South
The meeting is to ascertain the progress made ahead of a planned meeting between Trump and North Korean leader Kim Jong Un. Trump and President Moon Jae-in's meeting marks the third summit for the pair. "We'll be announcing it soon".

During the quarter the company burned cash at a rate of $57 million per week.

Tesla's stock recovered a little on Friday, up 2.4 per cent at $291 in early afternoon trade. At the end of past year the company had a total of $9.5 billion in long-term debt. The company has had just two positive quarters since it became a public company in 2010.

Tesla is expecting sales of Model S and X to pick up which will bring more cash to resolve this issue and this will help the company to achieve the target of 1,00,000 sales for the full year.

But that could slow future product development.

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

Tesla's Fremont facility is "jammed to the grills", so the Model Y needs to be produced at a new location.

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