Benzinga - by Adam Eckert, Benzinga Staff Writer.
Tesla Inc (NASDAQ: TSLA) shares had their worst week of the year last week after the EV company reported disappointing quarterly results.
One analyst criticized CEO Elon Musk for his attitude on the conference call.
What Happened: Financial analyst Kevin Paffrath told Yahoo Musk acted like a "little baby" and almost broke down crying on a conference call with investors last week following Tesla's third-quarter earnings report.
"For a leader to cry about the economy rather than funneling that and coming up with a plan is pathetic," Paffrath said.
Paffrath wasn't the only one criticizing Musk after the company reported worse-than-expected numbers.
Future Fund's Gary Black said Musk "overplayed" the impacts of the macro environment. He complained the Tesla CEO didn't talk enough about growth initiatives and efforts to drive EV adoption.
Wedbush analyst Dan Ives echoed much of the same sentiment, calling it a "mini disaster."
Check This Out: Tesla Sized Up By 9 Analysts After Q3 Earnings: 'Mini Disaster' Conference Call, First Bad Miss In Some Time, A Win For The Bears
Praffrath highlighted Tesla's planned gigafactory in Mexico as an example, noting Musk suggested the company was delaying development plans due to rising interest rates.
The analyst indicated Musk should be focusing on negotiating better deals with the Mexican government and expanding advertising efforts instead of acting "afraid" of interest rates.
"We need to know the light is at the end of the tunnel rather than hearing a complaining CEO who's not actually providing that path," he said.
TSLA Price Action: Tesla shares closed down at the end of last week nearly 10% after reporting weak earnings and were off about 15% for the week. Despite the losses, the stock is still up approximately 74% year-to-date.
Tesla shares were up 0.042% Monday at market close at $212.08, according to Benzinga Pro.
Photo: Daniel Oberhaus from Flickr.
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