Musk Defends Tesla On Twitter, Says Crashed Driver "Does Not Intend To Blame Tesla"

The best way to get Elon Musk tweeting, is for TSLA stock to be red on the day, and sure enough moments ago the billionaire CEO of Tesla could not containt himself, when in response to an (erroneous) tweet that "Tesla is dropping after @elonmusk says the stock price is 'higher than we have any right to deserve'" (as noted here first, TSLA tumbled on the news of yet another alleged Tesla autopilot-induced crash), Musk responded that "I should clarify: Tesla stock is obviously high based on past & present, but low if you believe in Tesla's future. Place bets accordingly …"

Judging by the 2.5% drop in TSLA shares, at least today there were fewer believers in Tesla's future than those who traded "based on past & present."

And in a separate tweet, one which did actually address what was bothering Tesla shareholders, Musk responded to another tweet, this time from Electrek which said what we noted earlier this morning, namely that "Tesla Autopilot is being blamed by driver in a rollover crash in Minnesota" saying this was "not true" and tweeted the email from the driver in the alleged autopilot-related crash, according to which "The Tesla driver sent an email to the sheriff and a local media outlet stating that he did not intend to blame Autopilot or Tesla for his accident."

Which is bizarre because according to the official police report as reported by the press, as recently as thismorning the driver was "blaming the crash on the car’s “autopilot”, according to authorities."

One almost wonders if there was a vigorous back and forth "settlement" negotiation behind the scenes between David Clark and Elon Musk which prompted the former to radically change his story.

More surprisingly however is that the market is not "buying" either Musk's explanation or the stock following Musk's tweet.

Comments

jcaz remain calm Mon, 07/17/2017 - 17:24 Permalink

Of course he has no intention-  that's what his lawyer is for.......The car had no intenton to wreck, either, but ya know, shit changes, Elon.BTW, Elon-  odd use of language here;Never thought of buying stock in Tesla as "betting"-  is that how you see it?  Are you the house?   Are investors aware that they're betting?  Maybe that's why you're so hung up on those "evil short sellers" out there-  you see the stock as easy-come, easy-go......Interesting verbage for a CEO who owns a wad of this "bet".Oops- sorry Looney- didn't see that you addressed the betting line. (+2, last I heard)

In reply to by remain calm

bamawatson yomutti2 Mon, 07/17/2017 - 19:28 Permalink

autopilot tested positive for red wine & ambianRecent zh article alluded to musk urging regulations to save us from  AI. Felon Skum called for regulations because he is a direct beneficiary of regulations. Libtards & Techtards constantly whine about "level" playing fields; that is the last thing they want. They only prevail when the game is rigged. That is why Felon Skum demands regulations.one of many conditions precedent for Felon Skum success is jack-booted .gov regulators must destroy his competition

In reply to by yomutti2

GUS100CORRINA Albasti Mon, 07/17/2017 - 17:43 Permalink

Below are key financial performance metrics comparing GM, F and TSLA ..While TSLA is doing a lot of cutting edge things, TSLA does look a little rich in many areas. ==========================================____METRIC______________GM_________F_________TSLA_Market Cap ___________54.12B______46.19B______53.12BIncome________________10.08B_______3.73B____-722.90MSales________________170.32B_____153.23B_______8.55BBook/sh_______________30.55__ _ _____7.7_______30.76Cash/sh_______________15.53_______10.11_______24.72Dividend_______________1.52_________0.6__________0P/E____________________5.62_______12.53________N/AForward P/E____________6.07________7.36________N/AP/S____________________0.32_________0.3________6.21P/B____________________1.19________1.52_______10.66P/C____________________2.34________1.16_______13.26Quick Ratio_______ _ _____0.7__ _ _____1.1__ _ _____0.8Current Ratio _____ _ _____0.9__ _ _____1.2__ _ _____1.1Debt/Eq________________1.98________4.77________1.64LT Debt/Eq _____________1.24________3.16________1.44EPS (ttm)_______________6.46________0.93_______-4.77EPS next Y______________5.99________1.59_______-0.76EPS next Q________ _ _____1.7________0.44_______-1.69

In reply to by Albasti

Miner sirsmokum (not verified) Tue, 07/18/2017 - 13:13 Permalink

There are two possible explanations for this.1. Here's a pile of money, please change your story to not blame Tesla.2. According to the telemetry from the wreck which we are required to release to the NTSB the autopilot system was not engaged. The former could cost Mr. Musk both his company, reputation, and dreams of living on Mars.The latter would make the driver look like an ass.  Given Tesla's history, I actually suspect the latter.  People are really bad drivers and the bar to beat them with an AI is very low. 

In reply to by sirsmokum (not verified)

NoWayJose Mon, 07/17/2017 - 15:57 Permalink

Why would you engage auto-pilot on a skinny dirt road in the middle of nowhere USA?

My guess - drugs, texting, booze...

Driver not pursuing because he was probably texting!

E. Phil Chew Mon, 07/17/2017 - 16:02 Permalink

Mr. Musk:  'Y'all ain't a-gonna say nuthin' off 'bout the car in the media, am ya ?'Driver:  'Damn right I am.  This thing I got conned into buying is the biggest piece of sh.....'Mr. Musk:  'Here's $2 mil.'Driver:   'What a great car !  My fault it went all kerblooey.  Gonna get another one too.'

izzee Mon, 07/17/2017 - 16:02 Permalink

Unless the DeMocrats get back in power, Elon Musk's "enterprises" will be in trouble with the Markets, as they cannot exist at these absurd "future valuation" levels without a Sugar Daddy handing Musk taxpayer Funds.

Ben A Drill Mon, 07/17/2017 - 16:15 Permalink

Why would anyone speed up going into a sharp left hand turn. AI or not, stupid car and driver. Either way, his auto insurance just went threw the roof. Very typical of a Tesla, very high auto insurance.

Deep In Vocal … (not verified) Mon, 07/17/2017 - 16:40 Permalink

and when other people dies while test driving it's not his fault.. the god damn fucking criminal.......not one finger will be lifted against this guy......new normal...... the fucking gangsters run the show.....

Chippewa Partners Mon, 07/17/2017 - 16:44 Permalink

My late father lived about 8 miles from the crash site. No one in their right mind would have autopilot engaged in those curvy MN roads except maybe somebody dumb enough to drive a TESLA down one!

lakecity55 Mon, 07/17/2017 - 16:47 Permalink

"I quickly flew a briefcase with 1 million $ innit to the driver and dictated an email for him to send.""Good thinking, boss.""Does he want a replacement car?""No."

roisaber (not verified) Mon, 07/17/2017 - 16:54 Permalink

This reminds me of that time Cheney shot a dude in the face and that dude apologized for it.

Greenecho Mon, 07/17/2017 - 17:38 Permalink

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You disengage the autopilot by “stepping on the accelerator”? What could possibly go wrong? 

redc1c4 (not verified) Mon, 07/17/2017 - 17:39 Permalink

i wonder how much $$$ that statement cost Tesla?no need to sue when they're ready to settle, right out of the gate.i call #Bullshit!

mobtown Bunga Bunga Mon, 07/17/2017 - 18:41 Permalink

OK. I"ve held back. I've been a true Zero Hedge guy for a long time, so if you don't like what I say, please downvote me, and fuck you anyway. In 1972 while I was fucking your grandmother on the hood of my MG, wait let me continue: In 1994 while I was getting blown by your mom in my Dodge van. Sorry, I digress. Here's the thing. My son who has made millions on his own (before he got out of college, and legally because he was smart, without government help) without any help but for having a supportive family, has bought a Tesla. He came for Thanksgiving and let me drive it. Having been a car owner for more than 45 years, I have to say that driving it was one of the more extradordinary moments of my life. I felt that I had been given a peek into the future. I always knew that I was in control of the car. I always knew that I was responsible for my passengers. I always felt the same way I always felt when driving, but I had more technical support. I would always re-take control of the car when I could see that there was possible trouble ahead, (big turns, pedestrians.). So I see that bashing Elon Musk is a regular feature here. I would normally support this and would support the articles and comments because I don't support our government subsidizing private business. I've come to a place where I have to say that I must support someone that seems to be able to produce something that is "forward seeing" and is actual progress in this world. I can't take anymore of the bullshit that passes for "the news" which is nothing more than celebrity gossip and made up stories. Give me something technical that I can actuallly use, even if its a new way of navigating a car. I'm giving the guy a break. At least my money is going to something that may benefit me, not paying for people to sit, reproduce, and raise more of the same. And please remember, that because of the cars that I have owned, that I may be your GRANDFATHER, or even YOUR FATHER. Oh yeah, and by the way, when your daughter is leaving the bar, and she has a choice of which car to get into, she'll opt for the Tesla (guarenteed-just so she can tell her friends). I always wanted to be a Great Grandpa.

In reply to by Bunga Bunga