Musk dismisses analyst as “not cool” to send stock plunging

Elon Musk was especially brusk in dealing with an RBC analyst Thursday. His manner seemed odd even for a man who makes a practice of it. As the electric car and solar panel company announced a record first-quarter loss, the Tesla CEO cut off two analysts who sought some basic answers: details about the company’s cash needs and orders for its all-important Model 3 mass-market electric car. “These questions are so dry. They’re killing me,” Musk said as he dismissed an RBC Capital Markets analyst in favour of a blogger who served up queries more to his liking. Musk called the analyst questions boring and “not cool.” Shares fell quickly in after-hours trading, and analysts began writing that Musk shouldn’t bite the hands that feed his company’s enormous cash needs because soon he may need more. By Thursday afternoon, Tesla stock had lost nearly 6 per cent of its value.

OTHER BUSINESS LEADS