Tesla Is Overvalued: Investors Are Treating It Too Much Like A Tech Company, Says Morgan Stanley

It may be time to sell Tesla as shares edge towards record highs, says Morgan Stanley.

in February, Tesla’s stock plunged amid the coronavirus sell-off in late March, falling below $400 per share.

In a note to clients on Tuesday, Morgan Stanley analyst Adam Jonas warned that while he understands the “attraction of the Tesla story” and its high-growth potential, it is still hard to see Tesla justifying its high stock price over the next decade. Morgan Stanley said that it forecasts Tesla to make 2 million cars annually for the next 10 years, but its current stock price implies a much higher production output: “At $1,000, we believe the stock is discounting roughly 4 million units” by 2030.

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