Cramer's dreams were crushed in practically every aspect after listening to Musk's conference call Wednesday evening. The company missed the mark on sales, earnings and cash flow and guidance. It is swimming in debt, with a negative $455 million cash flow.
"It is burning money like crazy. It is spending money like crazy. No way the balance sheet can support the investment needed," said the "Mad Money" host.
But the real kicker was the responses provided by Musk to valid questions about earnings.
When asked why sales were weak, and how manufacturing problems held back the company, Musk responded that it was "physically impossible due to a combination of customers being on vacation, severe winter weather and shipping problems." Customers on vacation?!
"It is burning money like crazy. It is spending money like crazy. No way the balance sheet can support the investment needed," said the "Mad Money" host.
But the real kicker was the responses provided by Musk to valid questions about earnings.
When asked why sales were weak, and how manufacturing problems held back the company, Musk responded that it was "physically impossible due to a combination of customers being on vacation, severe winter weather and shipping problems." Customers on vacation?!