Skip to main content

Market Overview

Elon Musk Calls Bay Area's Shelter-In-Place Order 'Fascist' In Vulgar Conference Call Rant

Share:
Elon Musk Calls Bay Area's Shelter-In-Place Order 'Fascist' In Vulgar Conference Call Rant

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has never been one to shy away from sharing his opinions, and that was as evident as ever during the company's first-quarter earnings conference call on Wednesday night.

Musk denounced the Bay Area's shelter-in-place order as "fascist" during an expletive-filled talk about the electric automaker's production facilities.

The call briefly cut out for a few moments following Musk's comments.

Early Wednesday morning, Musk tweeted "FREE AMERICA NOW" as he agreed with a follower on the scariest thing about the coronavirus (COVID-19) pandemic not being the virus itself but seeing how easily Americans "bow down & give up their blood bought freedom to corrupt politicians who promise them safety."

Tesla had to shut down its Fremont and New York manufacturing facilities for production under shelter-in-place orders issued by authorities to curb the spread of the coronavirus last month. A new shelter in place order for the area was announced this week.

"[S]even Bay Area jurisdictions released a new shelter-in-place order mandating that people stay home through May — with some key changes that will slightly loosen restrictions on daily life," according to the East Bay Times.

"The order...will take effect Monday, the same day that the current shelter-in-place plan expires. Under the new rules, existing requirements that people practice social distancing and leave home for only essential business and travel will remain in place, but some outdoor activities and business will be allowed to reopen."

See Also: Tesla Reports Big Q1 Earnings Beat, Near-Term Profitability 'On Hold'

Tesla's stock surged in Wednesday's after-hours trading session following a strong earnings beat. The company reported adjusted first-quarter earnings of $1.24 per share, which beat the analyst consensus estimate that called for a loss of 36 cents. The company reported quarterly sales of $5.985 billion, which beat the analyst consensus estimate of $5.9 billion.

"While near-term profit guidance is currently on hold, we believe we will achieve industry leading operating margins an profitability with capacity expansion and localization plans underway," the company said in its release.

Photo credit: Public domain.

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Coronavirus Elon Musk GigafactoryEarnings News After-Hours Center Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com