Tesla CEO’s peculiar conduct causes angst on Wall Street
DETROIT (AP) — Elon Musk has long been known for his quirky behavior but never have his actions caused so much angst on Wall Street.
On a Wednesday night conference call after Tesla announced a record first-quarter loss, CEO Musk cut off two analysts who sought details he didn’t want to give. They were asking about cash needs and orders for its Model 3 mass-market electric car.
He called the questions “dry” and switched to a blogger. The bizarre move raised questions about why Musk would antagonize the people he may need if his company runs short of cash.
Tesla burned through $745 million in cash during the quarter and lost nearly $710 million. It may need cash later in the year if it can’t make enough cars.