Elon Musk accepts his move to snub Tesla analysts was 'foolish'


Back in 2012, Musk commented on the short interest on Tesla's stock and warned that anyone holding a stock position against the company will have a "tsunami of hurt" coming for them.

As for whether this is the last of Musk's odd behavior, that seems unlikely. "They are actually on the *opposite* side of investors", Musk tweeted on Friday.

Musk promised restructuring, more Model 3 output and capital spending cuts to ease cash strain. The SUV crossover will likely be produced at a new factory that would be announced towards the end of this year.

"We've also found that there are some things that are very well suited to manual operation and some things that are very well suited to automated operation, and the two should not be confused", Musk said in reference to automation. It will be a crucial step in Tesla " s second "Master Plan', which will see the company expand beyond its current line-up with a second-generation Roadster and commercial vehicle entries, inculding an all-electric pick-up and a full sized Tesla Semi truck.

Tesla's Fremont facility is "jammed to the grills", so the Model Y needs to be produced at a new location.

Given a platform share with the Model 3 has now been confirmed, it's extremely likely that drivetrains will be the same, too.

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However, the firm likes to shuffle its powertrain offerings around often and without warning, so however the Model 3 line-up looks in 2019, it is likely to be replicated by the first Model Ys. The EV maker claims it doesn't need to raise more funds for capital expenditures.

Tesla has fallen far short of Musk's promises to ramp up Model 3 production, which the company has said is key to turning a profit. So almost five months ago, weeks before Tesla pushed back its Model 3 target to 2,500 units in Q1 2018 (which it failed to meet), the street didn't even think a profit in Q3 was possible.

When RBC Capital Markets analyst Joseph Spak asked Musk about Model 3 reservations, the Tesla CEO responded, "These questions are so dry".

Investors have consistently given Musk a pass for frequent misses of lofty production targets in the past, and Ramsey said that probably won't change. "Next. Boring questions are not cool".

The outspoken CEO spent the following 20 minutes speaking with Galileo Russell, a retail investor and host of the YouTube channel HyperChance TV, who convinced Musk on Twitter to allow him on the call despite it being reserved for analysts, investors, and the media.

Tesla's stock price dropped to $283 on Thursday, down from a record of $389 reached in September.