Tesla can normally rely on positive commentary from its biggest champion in the investment community, Morgan Stanley analyst Adam Jonas.
After the second-quarter results and call featuring CEO Elon Musk, however, the Tesla ‘mega-bull’ was nonplussed. “Almost no detail on outlook. Tesla’s outlook continues to lack any specific targets on revenues or margins,” he wrote in a note to investors. “Elon seems to be… exiting the auto industry”.
Jonas noted that Musk was “pulling capital out of the business and doubling down on AI, autonomy and robotaxis.”