Tesla’s (NASDAQ:TSLA) Elon Musk Vs the Market and the Media
Tesla Inc(NASDAQ:TSLA) dove 13% Monday’s highs after the nascent EV maker released Q-2 production figures and weathered unflattering press tied to the departure of its chief engineer and the hurry up pains taken to achieve a hyped Quarterly rollover rate.
CEO Elon Musk responded to the very unflattering reports early Thursday by questioning the integrity of the journalists behind them and the news outlets printing damaging analysis.
Hypemeister Musk began by 1st condemning Reuters as “relentlessly negative” about Tesla and accused the international wire service of running a “bogus” piece claiming low Model S production.
The article in question ran on 3 July and said Tesla’s Model S line was about 800 vehicles behind schedule. It also portrayed a chaotic factory scene and an anxious CEO leading up to the selfimposed Q-2 deadline.
Mr. Musk then directed shots toward Business Insider, which 1st reported that Tesla cancelled a “critical” braking test in order to meet M3 targets. The company said the test was redundant to double-check results of a similar exam.
He accused BI’s Linette Lopez of publishing “several false articles” and posited that she may have bribed Tesla insiders for information and conspired with a famed Short seller.
The Mr. Musk targeted CNBC, which he suggested publicizes the notions of unreliable experts.
Elon Musk’s distaste for MSM is not new. In May, he offered to establish a crowd-sourced media rating agency to help readers evaluate the credibility of sources.
It is interesting to note is the Wall Street, of whom he was once a darling is not coming to his aid.
What this young man is learning is that “bright feather’s are always in the Hunter’s gun.”
|NASDAQ:TSLA||309.16||5 July 2018||-1.70||313.76||314.39||296.22||17,442,500|
|HeffX-LTN Analysis for TSLA:||Overall||Short||Intermediate||Long|
|Neutral (0.09)||Neutral (0.01)||Neutral (0.04)||Neutral (0.22)|
Have a terrific weekend