Can you say this is a not a good thing for the faithful followers of the Man, The Myth The Elon!...
Tesla chief Elon Musk's refusal to answer "boring" Wall Street questions about the electric-car maker's financial condition sent shares down more than 7 percent Thursday and spurred concerns about the company's ability to raise money in the future.
Tesla's bonds followed the shares lower, and with at least three brokerages cutting price targets for the stock and eight of 27 now recommending "sell," several wondered what it would now cost the company to raise more funds this year if need be.
In a conference call Wednesday, Musk refused to answer questions from analysts on Tesla's capital requirements, saying "boring questions are not cool."
He instead took more than a dozen consecutive questions, unknown on such forums, from YouTube investment channel HyperChange TV, who had previously recommended buying Tesla shares.
Cowen analyst Jeffrey Osborne dubbed the call, in which Musk talked of "barnacles, flufferbots, and bonehead bears," surreal.
Morgan Stanley's Adam Jonas said it was the most unusual he had heard in 20 years in the business.
"Irrespective of the Tesla CEO’s annoyance with the genre of questions he was receiving ... an important part of Tesla’s success has been its relationship with the capital markets in funding its ambitious plans," Jonas wrote in a note to clients.
"The analysts on the call represent the providers of capital that Tesla has throughout its history depended upon."
https://www.msn.com/en-us/money/companies/tesla-stock-bonds-drop-as-elon-musk-snubs-wall-street/ar-AAwGbNd?ocid=spartanntp
