Listen to Tesla's Weirdest Conference Call in History
This week, Tesla CEO Elon Musk turned the electric car company’s quarterly earnings call — usually dry affairs where executives are peppered with questions by Wall Street investment analysts — into a bonkers roast of those analysts for asking “boring” and “boneheaded” questions.
“Tesla’s 1Q18 analyst conference call was arguably the most unusual call I have experienced in 20 years on the sell-side,” Adam Jonas, equity analyst at Morgan Stanley, said in a note to clients. “Many investors we spoke with post the call agree.”
Musk insulted the investment analysts and then pivoted to a YouTube personality — Galileo Russell — who runs HyperChange TV a show that documents “the current economic era of perpetually accelerating disruption.”
In correlation with Musk’s relatively unhinged behavior, Tesla stock dropped after the call. On Friday, Musk explained himself a little more, singling out two questions he insulted on Tuesday and explaining why they thought they were not up to snuff.
“It’s important to know that Tesla is the most shorted (meaning most bet against) stock on the market & has been for a while,” Musk writes on Twitter. “The two questioners I ignored on the Q1 call are sell-side analysts who represent a short seller thesis, not investors.”
Tesla is scheduled to produce its next earnings report in three months’ time, where it will likely provide more information about the state of Model 3 production. While the transition was criticized in some circles, Musk described the crowdsourced question itself as “interesting” and Bloomberg reporter Tom Randall described it as “a cool idea.”
Listen to the full video above — it’s the most entertaining conference call you listen to, and if you’ve never listened in on one, know hey do not go like this.