Investor sentiment on Tesla weakens amid Elon Musk's Twitter drama, Morgan Stanley says
"Our investor survey reinforces our views that Elon Musk's recent involvement with Twitter has contributed to negative sentiment momentum inshares and could drive some degree of adverse downside skew to Tesla fundamentals," Jonas wrote.
Tesla's slump has been notable since Musk closed the Twitter deal in late October, with the stock falling 25% and losing $150 billion in market value, compared to the S&P 500 being up 3%. The potential downside risks to Tesla exposed by Musk's focus on Twitter include consumer sentiment/demand, commercial partnerships, government relations/support, and capital markets support, according to the note.
But despite the negative investor sentiment towards Tesla due to Musk's involvement in Twitter, Morgan Stanley thinks the stock is still a buy."We see a window of buying opportunity near our $150 bear case."
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