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A top Tesla analyst just warned investors to balance 'greed and fear'

Aug 25, 2024, 16:36 IST
National Geographic/YouTubeTesla CEO Elon Musk.Tesla reported disappointing first-quarter earnings on Wednesday, and the stock is getting clobbered in early trading on Thursday, down 6% to $293.

Tesla has been on a massive run since the beginning of the year, busting through a $300-per-share barrier, surpassing Ford in Market cap, and at times exceeding even General Motors.

Interesting times for CEO Elon Musk and his 13-year-old company!

Morgan Stanley analyst Adam Jonas - a Tesla bull, for the most part - published a note on Thursday in which he captured the mood around Tesla:

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By that last bit, Jonas means that new players in the tech industry may intensify their efforts to get into transportation. Think Apple, Google, and Uber.

Tesla has a foot in two camps: it's a car company and tech firm. Jonas may be hinting that there's a long-term advantage there that might allow Musk and his team to look past their current challenges.

Get the latest Tesla stock price here.

NOW WATCH: A Tesla bull makes his case: 'We think it's real .... it's a good car. That's not a fluke'

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