DETROIT (AP) — Elon Musk’s quirky behavior has long been chalked up to that of a misunderstood genius. But never have his actions caused so much angst on Wall Street. Investors have for years endured millions of dollars in short-term losses in hopes of a long-term payoff. They might have even been able to stomach the $8.3 million that Telsa Inc. burns through each day. But it was a conference call Wednesday night that left many wondering how much more they can take. Just after 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 favor 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… Read full this story
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