Tesla CEO Elon Musk apologized to two analysts at the comapany’s Q2 earnings call Wednesday for his behaviour diuring the Q1 call.
Last May during the earnings call, Musk cut off questions from analysts, calling them “boring” and “boneheaded.” Subsequently the share price for the motor company dropped the next day.
“These questions are so dry. They’re killing me,” said Musk at the meeting in May.
At the Q2 meeting, Musk said to the analysts that there was no excuse for his behaviour and blamed his previous attitude on a lack of sleep due to the long hours he was working.
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“I would like to apologize for being impolite on the prior call,” said Musk. “Honestly, I think there is really no excuse for bad manners. I was kind of violating my own rule in that regard.”
The analysts accepted his apologies.
The share price for the automaker jumped over 12 per cent the following day, its largest jump since December 2013. This in large part to the company convincing investors that it was able to yield positive cash flow and turn a profit even after its largest quarterly loss to date.
The share price jumped to $337.68, giving the company a $57.35 billion valuation and pushing it past General Motors Company as the most valuable U.S. automaker.
Later in the call, Musk suggested that Tesla’s future cars will also be “polite” in their automation, revealing that one of the biggest challenges he sees for the autonomous vehicles is that they will be “easy to bully” by other cars and pedestrians getting in their way, as their programming will prioritize safety.
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