Hyperdrive

Elon Musk Says Sorry, Starts Acting Like a Real CEO

CEO apologizes to two analysts for behavior on earlier call
Carmaker burns through less money as Model 3 output picks up

Daniel Ives, chief strategy officer at GBH Insights, says it’s an execution story for Tesla going forward.(Source: Bloomberg)

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By Dana Hull

August 2, 2018 at 1:43 AM UTC

Updated on

August 2, 2018 at 8:18 PM UTC

This article is for subscribers only.

Elon Musk may have been on to something when he said Tesla Inc. was becoming a real car company. Just as importantly for investors, he’s acting more like a real CEO.

After Tesla reported burning through less cash than Wall Street feared in the second quarter, Musk apologized to the two analysts he scorned three months earlier for asking “bonehead” and “dry” questions on the company’s previous earnings call. The performance was well received: Tesla shares surged 16 percent, the biggest jump since December 2013.