Elon Musk accepts his move to snub Tesla analysts was 'foolish'

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Musk believes the two analysis he rebuked - RBC Capital Markets' Joseph Spak and Bernstein's Toni Sacconaghi - were asking questions created to stoke a short-selling frenzy. 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 vehicle history", Reuters reports. "Next. Boring questions are not cool".

Musk suggested that the two questioners he ignored on the Q1 call "are sell-side analysts who represent a short-seller thesis, not investors". (TSLA) sank this week on concerns over its most recent earnings call, which some on the Street said was the most weird they have ever experienced.

Elon Musk: We're going to go to YouTube, sorry.

Tesla shares tumbled as much as 8 percent on Thursday as investors anxious about the fallout from Musk's behaviour on the earnings conference call.

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Musk's grand apology came after Twitter user David Brady told the 46-year-old that he should've "just blocked them in the queue" rather than shutting down the critical questions they asked of Tesla during a live conference call.

Speaking at the Kase Learning Short Selling Conference in New York, Stanphyl Capital Partners founder Mark Spiegel criticized Tesla's financials and said they are "worsening" under heavy competition from luxury automakers.

Musk suggested that the reason he dismissed the questions was because the analysts didn't have "buy" ratings on Tesla stock. First of all, even though short sellers take the position that a stock is headed lower, by most definitions, they are "investors". "Do not buy it if volatility is scary". Actually, Musk responded to three separate questions from Tamberrino about the Model 3 and Model Y.

The electric-car maker affirmed plans to hit a weekly production rate of 5,000 Model 3 sedans by the end of the second quarter and continues to forecast profits and positive cash flow in the third and fourth quarters. Musk explained that the Model 3 already has about half a million reservations, "despite no advertising & no cars in showrooms".

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