Hyperdrive
Tesla Sinks After Musk Rejects Questions on Cash
- Shares fall after CEO dismisses questions as ‘not cool’
- Carmaker expects to generate cash in third, fourth quarters
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The earnings report started optimistically enough, with Elon Musk forecasting an end to Tesla Inc.’s cash-burning days after blazing through another $1 billion last quarter.
But by the end of Tesla’s first-quarter conference call, Musk was berating analysts for asking “boring” questions, and any shred of predictability was out the window. Investors cringed, sending the stock down as much as 7.4 percent to $279 in early trading Thursday.