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Offbeat Tesla stock soars after Musk apologizes to Wall Street

17:10  02 august  2018
17:10  02 august  2018 Source:   reuters.com

Elon Musk trolls billionaire betting against Tesla: 'Will send Einhorn a box of short shorts'

  Elon Musk trolls billionaire betting against Tesla: 'Will send Einhorn a box of short shorts' Billionaire David Einhorn's hedge fund Greenlight Capital reported Tuesday that the firm's bet against Tesla shares "was our second biggest loser" in the most recent quarter.Tesla CEO Elon Musk seized the opportunity on Twitter, retorting that he would send Einhorn "a box of short shorts to comfort him through this difficult time.

(Reuters) - Shares of Tesla Inc jumped 10 percent in premarket trade on Thursday, after the company convinced investors that it was able to produce positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks. Apple Stock Soars to All-Time High.

After Tesla produced 5,000 per week in July following several delays in reaching that target At least two brokerages raised their price targets on the stock . Musk , the eccentric billionaire, has been a He has run into trouble for snubbing Wall Street analysts to disparaging journalists critical of the

Shares of Tesla jumped 9 percent Thursday, after the company convinced investors that it was able to produce positive cash flow and turn a profit and after chief executive officer Elon Musk apologized for past incendiary remarks.

Musk, in a conference call Wednesday, addressing the company's largest quarterly loss to date, said the electric car maker would not need to raise more cash and that capital expenses would be slightly below $2.5 billion in 2018, lower than most analysts' estimates.

But it was his remorse for prior remarks to analysts that highlighted the call. Previously, he insulted some analysts - turning off investors and shareholders, and knocking $2 billion off the company's market cap.

Tesla's earnings could be its most important report ever

  Tesla's earnings could be its most important report ever Tesla will post its quarterly earnings Wednesday, and all eyes will be on the cash burn rate and clues about Model 3 demand.Wednesday, investors will get to find out the potential consequences to meeting that production goal. Tesla may have burned through even more precious cash.

Investors Should Ignore Elon Musk Stocking Up on Tesla - Продолжительность: 1:24 TheStreet: Investing Strategies 1 039 просмотров. Understanding Short Selling | by Wall Street Survivor - Продолжительность: 3:00 Wall Street Survivor 563 934 просмотра.

Musk ’s purchase comes just a few days after Tesla shares plummeted following a somewhat Though Musk later apologized for being dismissive Musk , clearly, has no patience for those keen on shorting Tesla stock and has routinely cautioned investors that betting against Tesla is a risky move.

"I would like to apologize for being impolite on the prior call. Honestly, I think there is really no excuse for bad manners. I was kind of violating my own rule in that regard," he said.

In the previous quarter, Musk called questions posed by two analysts "boring" and "boneheaded", and refused to answer them.

This quarter, not only was Musk's tone non-confrontational, but he apologized to both analysts.

The results could be a boon for the stock, as it is set to gain about $5 billion at the open.

"Elon's tone was generally improved vs. last quarter, which may seem trivial, but TSLA stock has become somewhat of an Elon sentiment gauge," RBC analysts said.

Musk reiterated a target of producing 6,000 Model 3 sedans per week by late August. After Tesla produced 5,000 per week in July following several delays in reaching that target, analysts were concerned whether it could maintain the production rate.

Tesla reports a wider quarterly loss than expected

  Tesla reports a wider quarterly loss than expected Tesla on Wednesday reported a wider second-quarter loss than analysts had expected.The company reported an adjusted loss per share of $3.06 (-$2.90 expected), while revenues topped estimates at $4 billion ($3.97 billion forecast).

CEO Elon Musk apologized to Wall Street analysts he'd insulted, helping to lift Tesla 's stock price as much as 13% during its earnings call. Tesla CEO Elon Musk 's Billion Apology Tour.

Access insights and guidance from our Wall Street pros. If the bar for Tesla (TSLA) CEO Elon Musk was to make it through an earnings call without calling anyone a "boring bonehead," consider it met. Tesla 's stock is all over the map after second quarter earnings Wednesday.

"After three quarters where investors have been in the dark with respect to estimating Model 3 volumes and margins, Q2 felt like there might finally be some light at the end of the tunnel," Evercore analysts wrote. "Come Q3, we may even be able to see the end of the tunnel, or Elon's 'Production Hell'."

Tesla had a record loss of $718 million in the second quarter, but investors and analysts focused on the positives, and more importantly on Musk's behavior on the conference call.

At least two brokerages raised their price targets on the stock.

Musk, the eccentric billionaire, has been a lightning rod for controversies. He has run into trouble for snubbing Wall Street analysts to disparaging journalists critical of the company, and also for recently abusing a British caver who helped rescue 12 boys from a flooded Thailand cave.


Tesla stock sinks, wiping out tweet-fueled rally in just 2 days .
It didn’t take long for the euphoria to fade. Exactly 48 hours after Elon Musk triggered a frantic rally with a tweet saying he was considering taking Tesla private, the stock erased all of those gains.Doubts have mounted about Musk’s ability to take the electric-car maker off the market, sending the stock tumbling more than 5 percent in Thursday afternoon trading, well off the $420 at which Musk said shareholders would be bought out.

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