Elon Musk Warns Tesla Short Sellers: You’ll Be ‘Obliterated,’ Q2 Earnings Call Announced

Elon Musk has warned Tesla short sellers sternly, promising they will be “obliterated” as the company advances its Full Self-Driving technology. Meanwhile, Tesla’s Q2 2024 earnings call is scheduled for July 23, sparking anticipation among investors.

Musk Condemns Short Sellers, Foresees Harsh Consequences as Tesla Advances in Autonomy and Robotics

Musk has maintained a vocal opposition to short sellers for years, even going so far as to assert that the approach, which profits from a company's demise, is inconsistent with the fundamentals of investing.

According to Teslarati, Tesla has garnered significant short interest over the past few years. Bears who believe the company is on the brink of financial catastrophe have held the belief that Tesla is a fraudulent company that has lied on financial spreadsheets for years, resulting in a collective loss of billions of dollars.

Although many short-sellers have since resigned, many continue to do so.

Musk anticipates this is merely the beginning of additional hardship for short sellers. As Tesla advances in resolving autonomy through its Full Self-Driving suite and increases production of its Optimus humanoid robot, those who maintain an adverse stance against the company will face severe consequences.

Tesla intends to commence its final efforts to resolve autonomy on August 8, when it will introduce its Robotaxi to the public at a special event. Nevertheless, there is a valid reason for individuals to harbor skepticism, as Tesla has been known to provide product release dates that are ultimately postponed.

That said, Tesla continues to be acknowledged as a pioneer in semi-autonomous driving technology. The neural network of Autopilot and Full Self-Driving has accumulated a substantial number of miles, which enhances the performance of both suites with each mile driven.

Due to its robust quarterly delivery figures, Tesla shares have surged by more than 9 percent on June 2. The stock has experienced a nearly 30% increase in value over the past month and has increased by more than 1,300 percent in the last five years.

Tesla Reveals Q2 Production and Delivery Stats, Sets Earnings Call for July 23

Tesla has announced its second-quarter production and delivery figures this week. Additionally, the automaker has scheduled its earnings call for the June quarter, which concludes in three months.

Tesla reported on June 2 that it produced 410,831 electric vehicles (EVs) and delivered 443,956 units in the year's second quarter. These figures were lower than the 479,700 and 466,140 EVs produced and delivered during the same period in 2023.

Tesla reported that the combined sales of Model 3 and Model Y accounted for most of the Q2 deliveries, totaling 422,405 units. During the quarter, Tesla delivered 21,551 units of its other models, such as the Model S, Model X, and Cybertruck.

Tesla will conduct its Q2 2024 earnings call on July 23 at 4:30 p.m. Central Time. The call will be live simulcast on the company's Investor Relations website.

After Tesla's Q1 2024 deliveries fell below 400,000 for the first time since the third quarter of 2022, the analyst consensus generally predicted that the automaker would deliver approximately 438,019 vehicles in Q2. This prediction was made before the announcement.

Tesla's 2024 annual shareholder meeting was held last month. During the meeting, CEO Elon Musk disclosed prospective plans to reinstate the referral program in Q3 and permit users to transfer its Full Self-Driving (FSD) system at no cost for an additional quarter.

Musk also hinted at Tesla's intentions for the Foundation Series Cybertruck, and he subsequently provided additional information regarding the duration of the automaker's commitment to the inaugural edition vehicle.

Tesla announced it would disclose its upcoming robotaxi platform on August 8, in conjunction with its Q2 2024 earnings call. Tesla has already provided prototypes of a ride-sharing platform for robotaxi services, which will be built on the company's FSD system. The platform is eagerly anticipated.

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