Musk's antics on the freakish 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", he said moments later.
"You need to have full autonomy, level 4 or 5, whatever you want to call it and, obviously, a lot of cars on the road, and then build the software infrastructure behind that to enable shared autonomy", Musk said.
"I think, generally speaking, when CEOs are evasive around number questions, that is worrisome... when financial questions are asked, they should be addressed", he added.
"The 2 questioners I ignored on the Q1 call are sell-side analysts who represent a short seller thesis, not investors", Musk explained. The decline grew after Musk lashed out at the analysts, and Tesla shares ended up closing down 5.5% in Thursday's session.
Quite recently, Tesla's QI earnings slowed down with a less than expected share drop. And the future financial needs of the automotive company still remained open.More news: Pakistani-origin Sajid Javid new United Kingdom home secretary
After offering his explanation on Twitter, Musk changed topics and tweeted instead that the next batch of the Boring Company's "Not a Flamethrower" flamethrower would be arriving just in time for the "short burn of the century".
"While the consequences are unquantifiable, we believe Tesla's CEO made a mistake in refusing to answer some of the analyst questions about the Model 3 ramp", Morgan Stanley analyst Adam Jonas wrote in a note on Thursday.
Wall Street analysts are closely following Tesla's progress as the company works to resolve Model 3 production delays.
The outspoken CEO spent the following 20 minutes speaking with Galileo Russell, a retail investor and host of the YouTube channel HyperChance TV, who convinced Musk on Twitter to allow him on the call despite it being reserved for analysts, investors, and the media.
Let's take a look at how the top 3 ETFs with Tesla exposure are performing Friday as of 1:30 Eastern time according to Yahoo Finance.
The questions Musk cut short on Wednesday related to Model 3 reservations and capital requirements.
Tesla also reported a net loss of almost $800 million during the last quarter, as the company grapples with widely reported problems over its inability to efficiently produce Model 3 cars. "Next?", Musk said, as he cut off an exchange about capital expenditures.