On Thursday, Tesla shares fell by 5.6% erasing about $3 billion from the company's market value after Musk sparred with Wall Street analysts on a conference call to discuss the company's quarterly results, according to the Wall Street Journal.
Musk dismissed analysts over what he called "boring bonehead" questions and cut two people off when they asked about Tesla's capital requirement and customer reservations for the Model 3 Sedan.
CEOs typically grit their teeth and try to answer financial questions on conference calls like this. Though Musk is known for his swagger and outsize personality, the impertinent answers he gave to analysts led some to believe he was masking Tesla's larger problems.
The Wall Street Journal reports that on the call, Musk seemed more excited to talk about the future of his company--which he believes includes self-driving cars and the next electric vehicle--than discuss the current state of his business. Tesla burned through $1 billion during the first quarter, as the company continues to face production struggles with the model 3 Sedan.
As he began deflecting questions, Tesla stock fell by 5% in a 20-minute span during after-hours trading.