Hyperdrive

Tesla Plunges After a Bizarre Conference Call

CEO reiterates the carmaker won’t need more capital this year
‘No one believes that,’ Baird analyst with buy rating says

Ben Kallo, a senior research analyst at Robert W. Baird & Co., discusses Tesla’s earnings call.(Source: Bloomberg)

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By Dana Hull, Molly Smith, and Keith Naughton

May 3, 2018 at 9:10 AM EDT

Updated on

May 3, 2018 at 12:01 PM EDT

This article is for subscribers only.

Elon Musk told investors not to buy Tesla Inc. shares if they can’t stomach volatility. They got the message.

The comments -- part of a bizarre, heated conference call after the close Wednesday -- sent the electric-car maker’s stock plunging. Tesla fell as much as 8.6 percent Thursday after the chief executive officer rejected analysts’ questions on another quarter in which the company burned more than $1 billion in cash.

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