Tesla’s 3Q Analyst Call Among Its Most Cautious In Years

Tesla's 3Q conference call on Wednesday was among the most cautious Morgan Stanley analyst Adam Jonas has heard in years and set the stage for the negative stock reaction. Elon Musk and management went out of their way to manage investor expectations around the closely watched Cybertruck launch, citing the difficulty of the ramp into 2024 and the negative impact the truck could have on margins and cash flow over the next 18 months, Jonas says in a research note.