Elon Musk kinda, sorta admits he messed up

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Musk tweeted that analysts at Sanford C. Bernstein & Co. and RBC Capital Markets were representing "a short seller thesis, not investors" when posing questions that Musk cut off during the Wednesday call.

Also, I guess what I would suggest (and I speak from extensive experience here), is that Elon should remember that no matter how famous he is, most people don't care about this debacle. And once they were on the call", Musk admitted, "I should have answered their questions live.

Musk said that despite the record loss in the first quarter, Tesla could see profits by year end. Sorry. These questions are so dry.

Both analysts snubbed by Musk - RBC Capital Markets' Joseph Spak and Bernstein's Toni Sacconaghi - have a "hold" or equivalent rating on Tesla shares, rather than a "sell" rating.

"Actually, they shouldn't really be writing the story", he said. He then allowed multiple questions from a person via YouTube.

The outspoken CEO spent the following 20 minutes speaking with Galileo Russell, a retail investor and host of the YouTube channel HyperChance TV, who convinced Musk on Twitter to allow him on the call despite it being reserved for analysts, investors, and the media.

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Going by the string of Twitter exchanges between Musk and the investors and analysts, Musk continued to boldly defend his performance and his failure to respond to the questions from most of the analysts.

After Musk's brush-offs during the conference call, Tesla shares fell in after-hours trading Wednesday and closed down more than 5% Thursday at $284.45 a share.

And despite his myriad efforts, Tesla remains the most popular short in the USA equity market, a designation it's held for much of the past two years.

Watch Tesla trade in real time here. In the call, Musk was asked questions related to reservations of the Model 3 sedan and the company's capital requirement. But since peaking in September 2017, the shares have slumped by more than 26 per cent, as concern has grown about ongoing production problems for the Model 3, and the prodigious amount of cash the company is burning through.

"While the consequences are unquantifiable, we believe Tesla's CEO made a mistake in refusing to answer some of the analyst questions about the Model 3 ramp", Morgan Stanley analyst Adam Jonas wrote in a note on Thursday.

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