Elon Musk hits back after ditching 'boneheaded' analyst queries on results call

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Tesla CEO Elon Musk defended himself Friday amid criticism for frustration he showed this week in a conference call with analysts.

In a post-earnings call on Wednesday, Musk refused to answer questions from analysts on the electric vehicle maker's capital requirements, saying "boring, bonehead questions are not cool", before turning questions over to a little-known investor who runs HyperChange, a YouTube investment channel.

Short-sellers who had targeted Tesla Inc logged a $700 million paper profit on Thursday following the fall of the stock nearly 9 percent a day after CEO Elon Musk stunned experts by dodging "boring" questions regarding the automaker's financial outlook. (TWTR) early Friday with a series of tweets justifying his bold behavior on Thursday's call, in which he dismissed some analysts' questions and redirected others to a pro-Tesla YouTube blogger. This means that some are betting Tesla's shares will fall, and they stand to gain if the share price drops. "We're going to go as long as there are good questions to answer", he said of the question and answer phase of the call.

Problems with building Model 3s at a plant in Fremont, California, got so bad during the quarter that Musk has tweeted he's sleeping at the factory, automation is overrated and more humans are needed to build the cars.

The fallout from Musk's statements was immediately felt by the company's stock.

In its letter, Tesla said Model 3 production hit 2,270 per week at the end of April, the third straight week that it reached over 2,000. Tesla built just 2,400 of the sedans in the first six months of production, although the company says it is now building approximately that amount per week and targets a 5,000-per week figure in the next two months. And the future financial needs of the automotive company still remained open.

According to CNCB, "The dollar amount of shares shorted on Tesla increased 28 percent in the last month to $10.7 billion, according to S3 Partners". (AAPL), who stole the position for a short time. Chief executive Elon Musk's freakish tantrums during the call caused an 8% decline in the company's stock price.

Shares of Tesla Inc. Musk also noted that there are "really big numbers" involved.

"That has an impact but it's not something that will prevent them from raising capital", Houchois said.

Tesla CEO Elon Musk on Wednesday made another round of headlines after a handful of contentious exchanges with analysts during an earnings report conference call.

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