Gene Munster: It's a 'Fairy Tale' to Think Elon Musk Will Ever Grow Up on Twitter

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February 28, 2019

By Chloe Aiello

Elon Musk's Twitter account has gotten him and electric vehicle maker Tesla in big trouble, but the CEO doesn't seem to have learned his lesson ー and if you ask Gene Munster, he never will.

"What we want from him will never happen. What we want from him is to be judicious around his Twitter to show some form of acting like an adult but unfortunately he is not going to change," the Loup Ventures managing partner told Cheddar Thursday.

Musk got in deep trouble with the Securities and Exchange Commission after tweeting materially false information about his company, Tesla. He stepped down as chairman, paid a $20 million fine, and agreed to have his tweets censored in order to settle the resulting charges. But he's in trouble again. Earlier this month, he tweeted that Tesla would produce 500,000 cars in 2019, and hours later admitted the figure was not exact ー the SEC is asking that he be held in contempt, Bloomberg reported.

Munster said Musk's behavior is damaging the company's credibility with investors, "who understandably don't believe in him and believe that he is most childlike."

Ultimately any investors now looking to invest in the electric carmaker have to come to terms with accepting "the bad with the good with Elon," Munster said. "And for people like me who once thought he was going to change, I now have religion and realize that is a fairy tale."

All of those consequences didn't stop Musk from once again tempting the Twitter-verse on Tuesday with "some Tesla news" to come on Thursday.

It turns out what Musk was teasing was the drop of the long-awaited $35,000 Model 3. The most affordable version was previously $42,900, according to Electrek. The $35,000 model is standard range, meaning drivers can expect to travel 220 miles per charge. The long-range Model 3 offers 240 miles of range, starting at $37,000.

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