Wall Street is happy over Tesla's quarterly results and guidance, but Elon Musk's apologies to multiple analysts may even be more important to the company's shares and investor sentiment. On Wednesday's post-earnings conference call, Tesla took its first questions from the two analysts Musk had dismissed three months earlier, when the company reported first-quarter results. That day, the stock plunged in after-hours trading in response to the "boring, bonehead questions" insults and erratic behavior by its executive. This time Musk showed contrition and Tesla shares surged 8.5 percent in after-hours trading Wednesday, adding about $4.75 billion to the stock's value. The stock is up 9.3 percent Thursday. "My apologies for not being polite on the prior call," Musk said, blaming his behavior in part on a lack of sleep and overwork. Video Hyperloop Tests in Nevada Desert, With Eye on North Texas "I appreciate that," said Bernstein analyst Toni Sacconaghi in … [Read more...] about Elon Musk Makes ‘Maybe the Most Valuable Apology of All Time’ on Tesla’s Earnings Call
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Tesla stock rallies as Elon Musk apologizes, promises future profits
By Matthew Rocco Published August 02, 2018 Tesla FOXBusiness Facebook Twitter Comments Print video Tesla suffers big losses as company ramped up Model 3 production FBN’s Kristina Partsinevelos discusses Tesla’s second-quarter earnings report. Tesla CEO Elon Musk extended an olive branch to Wall Street during a conference call with analysts, fueling a big rally in the company’s shares Thursday. Continue Reading Below The electric car maker also continues to target positive cash flow and quarterly profits in the second half of the year amid expanded production of the Model 3. Despite reporting a record quarterly loss Wednesday, Tesla burned through less cash than Wall Street feared in the second quarter. Tesla’s stock jumped more than 10% in recent trading, setting a pace to record its best one-day gain since November 2015. Musk’s remorseful earnings call came after he cut off questions from two analysts on a … [Read more...] about Tesla stock rallies as Elon Musk apologizes, promises future profits
Elon Musk backs off Tesla’s goal of making 1 million vehicles by 2020
Tesla‘s CEO, Elon Musk, and CTO, JB Straubel, suggested the company may not hit its goal of making 1 million vehicles by 2020 during its second-quarter earnings call on Wednesday. After Wall Street Journal reporter Tim Higgins asked if the company still planned to make 1 million vehicles in 2020, Musk and Straubel said that was their goal, but suggested the actual number may be lower. “I think we have a shot at a million but somewhere 700,000, 800,000 seems pretty likely given … what we know today,” Straubel said. During Tesla‘s first-quarter earnings call in 2017, Musk said it was “quite likely” the company would make 1 million vehicles “or maybe more” in 2020. Tesla’s CEO, Elon Musk, and CTO, JB Straubel, suggested the company may not hit its goal of making 1 million vehicles by 2020 during its second-quarter earnings call on Wednesday. After Wall Street Journal reporter Tim Higgins asked if the company still planned … [Read more...] about Elon Musk backs off Tesla’s goal of making 1 million vehicles by 2020
From Monty Python to Mario Kart, Elon Musk Proves His Nerdiness With These 17 References and Easter Eggs
The CEO of Tesla and SpaceX takes whatever chance he gets to provide nods to some of his favorite science-fiction stories, video games and old comedy movies. Entrepreneur Staff Published 9:12 am CDT, Thursday, August 2, 2018 Image 1of/1 CaptionClose Image 1 of 1 From Monty Python to Mario Kart, Elon Musk Proves His Nerdiness With These 17 References and Easter Eggs 1 / 1 Back to Gallery The CEO of Tesla and SpaceX takes whatever chance he gets to provide nods to some of his favorite science-fiction stories, video games and old comedy movies.Copyright 2018 Entrepreneur.com Inc., All rights reservedThis article originally appeared on entrepreneur.com … [Read more...] about From Monty Python to Mario Kart, Elon Musk Proves His Nerdiness With These 17 References and Easter Eggs
Elon Musk Makes the ‘Most Valuable Apology of All Time’ on Tesla’s Earnings Call
Wall Street is happy over Tesla's quarterly results and guidance, but Elon Musk's apologies to multiple analysts may even be more important to the company's shares and investor sentiment. On Wednesday's post-earnings conference call, Tesla took its first questions from the two analysts Musk had dismissed three months earlier, when the company reported first-quarter results. That day, the stock plunged in after-hours trading in response to the "boring, bonehead questions" insults and erratic behavior by its executive. This time Musk showed contrition and Tesla shares surged 8.5 percent in after-hours trading Wednesday, adding about $4.75 billion to the stock's value. The stock is up 9.3 percent Thursday. "My apologies for not being polite on the prior call," Musk said, blaming his behavior in part on a lack of sleep and overwork. Video Hyperloop Tests in Nevada Desert, With Eye on North Texas "I appreciate that," said Bernstein analyst Toni Sacconaghi, in … [Read more...] about Elon Musk Makes the ‘Most Valuable Apology of All Time’ on Tesla’s Earnings Call