Shares of Tesla, which initially popped following an earnings beat Wednesday afternoon, sank as low much as 7% after CEO Elon Musk’s bizarre conference in which he interrupted analysts and insulted their questions.
Traditionally, most questions are given to these analysts because their employers often hold sizable positions in Tesla and will be responsible for helping the company raise cash if it were to need another infusion.
“We’re going to go to YouTube,” Musk said, forgoing any more analyst questions, after getting fed up with analysts’ questions that were “So dry.”
Joseph Spak, an analyst for RBC Capital Markets who was interrupted by Musk, said it was “An odd conference call that lacked answers to questions on investors’ minds and overshadowed earnings.”
“I just left the call very frustrated,” Rebecca Lindland, an analyst at Kelley’s Blue Book told CNBC Thursday morning.
“Elon, you’ve got to grow up. You’ve got to stop looking at shiny objects and you’ve got to get on track. You have to take analyst questions, adult analyst questions, not fanboys, not retail analysts.”