Tesla CEO Elon Musk apologizes to analysts

Business


On Wednesday, Musk said of his impoliteness towards analysts, “I violated my own rule in that regard…There’s no excuse.” The CEO’s contrite tone on Wednesday’s call may assuage the concerns of investors who worried about Musk’s leadership style under pressure.

CFRA’s Efraim Levy wrote in a note to investors on Wednesday, even ahead of the call:

“We like the more muted tone of the company’s outlook, with the absence of unnecessary new stretch goals. One example is TSLA’s reiterating a Model 3 production rate goal of 6,000 units per week by late August, with a more vague time frame to reach production of 10,000 units per week, despite our expectation for a more accelerated ramp. Perhaps it reflects a more cautious Elon Musk.”

Tesla shares were up 10 percent in after hours trading on Wednesday.



Source link

Products You May Like

Articles You May Like

Forget FANG, the market loves WANG
It’s high taxes for the $245 million Powerball winner 
Do this one simple thing to secure a great vacation next year
Investors betting defensive stock market plays will win as they sold tech, financials
Working with Goldman Sachs, Silver Lake on taking Tesla private

Leave a Reply

Your email address will not be published. Required fields are marked *