Is Musk Unhinged, And Other Questions for Cash-Constrained Tesla
(Bloomberg) -- Elon Musk should have a “mea culpa moment” and apologize for a contentious earnings call that spurred a sell-off of Tesla Inc. shares, an analyst who's bullish about the company said.
“Is he unhinged? And is our capital secure with Tesla? That's the question people have,” James Albertine, a Consumer Edge Research analyst with a buy rating on the shares, said Thursday on Bloomberg Television. “Clearly, he seems fatigued and frustrated and this is the wrong time to lash out at the investor community. So it was a regrettable moment, to say the least, and the stock reflects that today.”
The shares fell as much 8.6 percent as of 11:35 a.m. in New York, the biggest intraday drop in a month.
Read more: Investors Take Heed After Musk Says Don't Buy Tesla
--With assistance from Vonnie Quinn and Caroline Hyde
To contact the reporter on this story: Keith Naughton in Southfield, Michigan at knaughton3@bloomberg.net.
To contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, Jamie Butters
©2018 Bloomberg L.P.
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