Car crash for Musk as value of Tesla halves: Shares tumble 50% in three months as recession fears rock global markets

We foresee another year of stalled volumes without an imminent new vehicle launch,

Redburn analyst Adrian Yanoshik wrote

While the long-term story at TSLA has shifted to AI (robo-taxis and humanoid robots) and progress there continues, we believe these are longer dated opportunities that the premium multiple already (more than) considers,

UBS analyst Joseph Spak said, adding

BYD is telling you there’s no value in self-driving,

said Johnson, the GLJ Research analyst

For how much longer can the stock remain divorced from the fundamentals?”

JP Morgan analyst Ryan Brinkman wrote in January, after Tesla reported poor earnings and its first-ever annual vehicle-sales decline

There’s absolutely nothing stopping him from releasing this self-driving technology right now,

said Gordon Johnson, chief executive of investment-advisory firm GLJ Research, which recommends shorting Tesla’s stock

If he released it tomorrow, the jig would be up. These things would be wrecking across America.”

The tech isn’t road-ready, Johnson argues