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Tesla Plunges After a Bizarre Conference Call

  • CEO reiterates the carmaker won’t need more capital this year
  • ‘No one believes that,’ Baird analyst with buy rating says
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Ben Kallo, a senior research analyst at Robert W. Baird & Co., discusses Tesla’s earnings call.(Source: Bloomberg)
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Elon Musk told investors not to buy Tesla Inc. shares if they can’t stomach volatility. They got the message.

The comments -- part of a bizarre, heated conference call after the close Wednesday -- sent the electric-car maker’s stock plunging. Tesla fell as much as 8.6 percent Thursday after the chief executive officer rejected analysts’ questions on another quarter in which the company burned more than $1 billion in cash.