Musk appears to be losing the confidence of more Tesla investors, with Kevin Paffrath slamming the CEO’s behavior.
Tesla investors have grown increasingly frustrated with CEO Elon Musk, with some calling for a new CEO and accusing Musk of being too distracted with X (formerly Twitter) and abandoning the automaker. The situation has been made worse by Tesla’s recent earnings call, in which the company posted $690 million less than expected.
In an interview with Yahoo Finance’s Rachelle Akuffo, Paffrath slammed Musk’s behavior on that earnings call:
Oh, my gosh, this was terrible. I feel bad for him. Look, he’s got a lot of things going on, legal battles, custody battles for his kids now, but it doesn’t justify acting like Trump on Twitter stonewalling the SEC or the European Union, and quite frankly turning into a little baby on the earnings call.
I mean, he was almost in tears. It showed a complete lack of leadership. Tesla’s a leadership-less company right now and it’s terrible. That’s why their CFO just left, I believe, as well.
And this is a slap in the face to everyone. It’s not just the shareholders, but it’s a slap in the face to the other managers who are still there and the over 100,000 employees at Tesla. For a leader to cry about the economy rather than funneling that and coming up with a plan is pathetic.
Of course, given how disastrous Musk’s ownership of X has been, perhaps the social media platform will implode, free up his attention, and help him refocus on Tesla.