Skip to main content

Market Overview

Analyst Criticizes Elon Musk For Acting Like A 'Little Baby,' Says Tesla CEO Almost Breaks Down Crying On Earnings Call

Share:
Analyst Criticizes Elon Musk For Acting Like A 'Little Baby,' Says Tesla CEO Almost Breaks Down Crying On Earnings Call

Tesla Inc (NASDAQ: TSLA) shares had their worst week of the year last week after the EV company reported disappointing quarterly results.

One analyst criticized CEO Elon Musk for his attitude on the conference call.

What Happened: Financial analyst Kevin Paffrath told Yahoo Musk acted like a "little baby" and almost broke down crying on a conference call with investors last week following Tesla's third-quarter earnings report. 

"For a leader to cry about the economy rather than funneling that and coming up with a plan is pathetic," Paffrath said.

Paffrath wasn't the only one criticizing Musk after the company reported worse-than-expected numbers.

Future Fund's Gary Black said Musk "overplayed" the impacts of the macro environment. He complained the Tesla CEO didn't talk enough about growth initiatives and efforts to drive EV adoption. 

Wedbush analyst Dan Ives echoed much of the same sentiment, calling it a "mini disaster."

Check This Out: Tesla Sized Up By 9 Analysts After Q3 Earnings: 'Mini Disaster' Conference Call, First Bad Miss In Some Time, A Win For The Bears

Praffrath highlighted Tesla's planned gigafactory in Mexico as an example, noting Musk suggested the company was delaying development plans due to rising interest rates. 

The analyst indicated Musk should be focusing on negotiating better deals with the Mexican government and expanding advertising efforts instead of acting "afraid" of interest rates. 

"We need to know the light is at the end of the tunnel rather than hearing a complaining CEO who's not actually providing that path," he said. 

TSLA Price Action: Tesla shares closed down at the end of last week nearly 10% after reporting weak earnings and were off about 15% for the week. Despite the losses, the stock is still up approximately 74% year-to-date. 

Tesla shares were up 0.042% Monday at market close at $212.08, according to Benzinga Pro.

Photo:  from Flickr.

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Dan Ives electric vehicles Elon MuskAnalyst Color Earnings News Top Stories Tech

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com