'Dunno where this bs came from': Elon Musk slams claims that Tesla Model 3 cancellations are outpacing deposits TSLA
Get the Full StoryLucy Nicholson ReutersElon Musk took to Twitter on Thursday night to defend Tesla after a New York investment bank downgraded the electric car company's shares that morning.
The firm suggested Tesla Model 3 cancellations are outpacing orders.
Musk responded with a tweet calling the suggestion 'bs' and then gave specific order numbers.
Tesla, CEO Elon Musk took to Twitter on Thursday night to dispute rumors that Model 3 cancellations are outpacing orders. The move came after Needham & Co., a New York-based investment bank, downgraded Tesla shares from hold to sell.
Needham's report, which included several reasons for taking a bearish position on Tesla, specifically cited, "slower sales of Model S X on increased competition, possible cannibalization from Model 3 and expiration of credits." See the rest of the story at Business InsiderNOW WATCH: An early investor in Airbnb and Uber explains why he started buying bitcoin in 2009See Also:Elon Musk says he sees Twitter as a 'meme war land' and it could create a big problem for TeslaAirbus and Boeing have racked up more than 55 billion in sales this week, and it's only TuesdayOne of the Tesla Model 3's biggest critics has changed his mind and now says the car could be profitableSEE ALSO: Elon Musk reportedly tried to defuse criticism of his Republican funding by asking an environmental group to ride to his rescue
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