Posted on 05/05/2018 5:28:25 PM PDT by SeekAndFind
Tesla CEO Elon Musk attacked sell-side analysts from Bernstein and RBC apparently because they supported short sellers of Tesla stock.
If you were the CEO of a company that had been around for 15 years, never posted an annual profit, but had seen a nearly 1,000% appreciation in your stock and were considered — by some — to be the reincarnation of either Leonardo da Vinci or Thomas Edison, would you take to Twitter to pick fights with an obscure group of finance wonks who ask you somewhat difficult questions after you were required by US securities law to disclose that you lost over $700 million in three months?
You would if you were the new Elon Musk, who once hovered above the Wall Street fray but now realizes that he's far more dependent on the capital markets than he ever wanted to be.
If you haven't been keeping up, Musk flipped out on a call with analysts on Wednesday after Tesla announced another huge quarterly loss.
(Excerpt) Read more at businessinsider.com ...
I admire Musk as an engineer, a dreamer who manages to achieve many seemingly impossible targets and an inspiration for many on how to dream big technology ideas
What he is not good at is business schmoozing, accountancy and boring project management. As a project manager (in a previous life) I'd say his timelines and cost estimations are completely out of wack
But in this particular case I believe he will pull through. The battery making business is going well and there are strong indications that other manufacturers will adopt his batteries. SpaceX is great. The Boring company has potential.
Tesla has changed the way we think about cars and that is a good thing.
at the same time their business model is destroyed.
The secret to getting out is to follow what Deutsche Post did -- it merged into DHL (which was a subsidiary) and sold off Postebank to DeutscheBank
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