Elon Musk just took the entire EV sector down with these comments
CNN
Six months ago, Elon Musk said he would stop attending investor conference calls unless there was "something important" that he needed to say. He should have stuck with that plan.
After skipping Tesla's third-quarter call, he returned to the call Wednesday to discuss fourth quarter's record earnings and revenue. But his comments on this week's conference call spooked investors despite Tesla's successful financial results. Tesla (TSLA) shares had their worst day in months on Thursday, losing 11.6% and taking the other EV stocks down along with it.
Musk focused his comments on supply chain issues that had hurt Tesla far less than other automakers. Although Musk said Tesla was on path to be "comfortably above 50% growth in 2022," and that the chip shortage is "better than last year," he also noted the supply chain problem is "still an issue that could slow the rollout of new vehicles that had been expected as soon as this year.
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