The public’s willingness to take everything Elon Musk says at face value appears to be wearing thin.
Elon’s long-established pattern of following bad news with grandiose announcements and, frankly, truckloads of baloney, has lost its appeal and is having an ever more minor and temporary effect on Tesla shares.
Even Tesla’s biggest institutional supporters appear to be losing patience and casting a skeptical eye toward his plans, and this does not bode well for TSLA investors.
And this is not even a comprehensive list of all the signs of eroding confidence in Elon.
Conference calls have transitioned from seemingly scripted softball sessions to something approaching real conference calls with poignant and skeptical questions coming from those in attendance.
The financial community is no longer taking everything Elon tells them at face value. I don’t know of a single analyst that believes Tesla will sell 500,000 vehicles in 2018, as Elon promised during the Q2 earnings call.
All in all, the rose-colored glasses are coming off and there are signs that reality is beginning to carry the day.