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Tesla (TSLA) tumbles after disastrous Elon Musk convention name Unveiled: Uncover Auto Excellence at Autoxyon

On this fascinating article, we delve into Tesla (TSLA) tumbles after disastrous Elon Musk convention name, a masterpiece crafted by Fred Lambert and revealed on 2023-10-19 17:20:54. Discover the world of Auto Excellence and uncover what units Autoxyon aside.

Tesla’s inventory (TSLA) is down by as a lot as 10% in the present day following the discharge of the corporate’s earnings and the next disastrous convention name with Elon Musk.

Yesterday, Tesla launched its Q3 monetary outcomes, and it did miss expectations, however the inventory was truly flat following the discharge – presumably due to the announcement of the Cybertruck supply occasion. Nevertheless, issues took a flip for the more serious for Tesla’s inventory after the convention name with Tesla’s administration.

There have been a number of items of knowledge that got here out of the decision that doubtless contributed to the inventory tumbling, like Elon Musk “tempering expectations” with Cybertruck and Tesla pumping the brakes on Gigafactory Mexico.

However the whole temper of the convention name itself may need affected the present sell-off.

Electrek’s Take

I used to be personally upset within the convention name. First, we missed the primary half of Musk’s opening assertion as a result of he was muted.

However that’s not the worst half. The worst half was that Tesla unmuted him, however they didn’t inform him. He didn’t restart his assertion; he simply continued as if nothing occurred. After which it occurred once more midway by way of the decision.

It’s not the primary time I’ve been fearful about Musk being surrounded by sure males who’re too afraid to present him dangerous information, and I wouldn’t be shocked if that is an instance of that.

Secondly, I used to be upset by Musk skating round vital questions. For instance, he was requested a essential query about Tesla’s plan to ultimately take obligation for FSD; as an alternative of responding, the CEO complained about folks “already believing that Tesla has the accountability” as a result of they’re suing the corporate, then claiming that Tesla achieved “child AGI,” which isn’t a solution in any respect.

Lastly, he spent about half the decision complaining about macroeconomics and rates of interest, which I do know are having a huge impact on Tesla’s enterprise proper now, but it surely’s not an excellent look to complain a ton about one thing fully outdoors of the corporate’s energy after which not reply questions which can be throughout the firm’s energy.

It additionally seems like Musk is pushing this excessive curiosity challenge an excessive amount of. It has an simple affect, but it surely’s actually not the one challenge with demand as a result of Tesla has lowered costs extra during the last yr than what it wanted to maintain month-to-month funds on the similar worth regardless of rate of interest will increase.

I shared my ideas on this yesterday:

It does really feel like Musk is spending an excessive amount of time on X and caught in his superfan-controlled suggestions loop.

FTC: We use earnings incomes auto affiliate hyperlinks. Extra.

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For extra particulars, go to https://electrek.co/2023/10/19/tesla-tsla-tumbles-disastrous-elon-musk-conference-call/ or click on . You will not need to miss this!

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