Many people hold a grudge against Elon Musk for various reasons, but mainly because he has been doing as he pleases in the technology and automotive sectors for five years. And well, Twitter is tearing him apart more and more with each passing day.
For this reason, this news will please many, as Tesla’s CEO acted like “a little baby” a few days ago, recently revealed financial analyst and YouTuber Kevin Paffrath to Yahoo Finance.
He also described the shareholders’ call, where the events took place, as “terrible.” At one point, Elon Musk broke down in tears, the analyst confesses.
This is how the moment when Elon broke down happened
“For a leader, crying about the economy instead of channeling that and presenting a plan is pathetic,” said Paffrath, who has nearly 1.9 million subscribers on his YouTube channel Meet Kevin and owns shares in Tesla.
Paffrath cited Musk’s comments about Tesla’s gigafactory in Mexico as an example. The $10 billion project, confirmed by Musk during a meeting with investors in March, would be the company’s sixth factory and the most expensive to date.
During the call, Elon Musk suggested that he was delaying the factory in light of rising interest rates, which increase loan costs. “If interest rates stay high or go up even further, it will be much harder for people to buy a car. They simply can’t afford it,” Musk said, pointing out the impact on monthly car loan payments.
But Paffrath criticized Musk’s response, saying that Tesla’s CEO was “afraid,” and suggested that Musk should negotiate a better deal with the Mexican government.
“We need to know that there’s light at the end of the tunnel instead of hearing a CEO complain that he’s not actually providing that path,” he told Yahoo Finance.
Tesla’s third-quarter results were worse than expected, as both earnings per share and revenues of $23.35 billion fell short of analysts’ estimates.
The electric vehicle manufacturer’s stocks fell by 15% in the last week, valuing the company at $664 billion, but the value is still up 96% this year.
