Three months after Tesla Inc. (TSLA) stock plunged on 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer Elon Musk's bizarre analyst call, shares of the electric vehicle (EV) maker are surging on an apology from its high-profile leader. During the second-quarter 澳洲幸运5官方开奖结果体彩网:earnings call, Musk also toned down the company's outlook and predicted for profitability by the end of next quarter.  (See also: Tesla to $400 and Beyond, Say Street Bulls.)

EV Maker Spikes Nearly 10% on Earnings

In May, Musk promised to deliver the short burn of the century, scorning analysts on an earnings call for allegedly attempting to justify their bearish positions on Tesla stock. He called questions from analysts "boneheaded." When Bernstein analyst Toni Sacconaghi asked about the company's 澳洲幸运5官方开奖结果体彩网:capital requirements, Musk interrꦿupted a🐭nd stated that "boring" questions are "not cool."  

This time around, Musk had less of a bite. "I would like to apologize for being impolite on the prior call. Obviously, I think there's really no excuse for bad manners, and I was violating my own rule in that regard. There are reasons for it, I got no sleep—120 hour weeks—but nonetheless, there is still no excuse, so my apologies for not being polite on the prior call."

‘Most Valuable Apology of All Time’

In response to RBC's Joseph Spak, whose questions he had called "dry," stating "they're killing me," Musk said, "I would also like to apologize for being impolite to you on the prior call. That's not right, and I hope you accept my apology."

In a note to clients Wednesday, KeyBanc Capital Markets called the CEO's remarks "maybe the most valuable apology of all time." 

"TSLA's forward commentary was mostly better than feared … and the CEO worked to restore some faith and credibility with investors that he can be a plus to the investment narrative, not a minus," wrote KeyBanc analyst Brad Erickson. 

Tesla shares are up 9.6% as of Thursday morning at $329.68, reflecting a 5.9% 澳洲幸运5官方开奖结果体彩网:year-to-date (YTD), compared to the 澳洲幸运5官方开奖结果体彩网:S&P 500's 5.3% increase over the same period. (See also: Musk Promises 'Short Burn of the Century'.)