As the fear, uncertainty and doubt arrising from a massive social media disinformation campaignagn aginast Tesla hit fever pitch last year, Morgan Stanley analyst Adam Jonas started to get worried.
He definitely didn’t want to look like an idiot and set an unrealistic price target for Tesla… so he had a bright idea. In May 2019, he estimated that Tesla stock could be worth anywhere from $10 to $340. After shares recovered somewhat, he raised his best case scenario to about $500.
Now, I know what you’re thinking: $10 to $500? What kind of analysis is that? With a range that large, it’s pretty difficult to be wrong –– but don’t count Jonas out. Amazingly, as Tesla shares hit $500 today, Jonas somehow managed to blow it anyway. His Tesla price target was completely wrong.
Yes, even his ridiculous price range of $10 – $500 ended up being incorrect. The funny thing is, Jonas was one of the early analysts to understand the potential of electrification and ridesharing. It’s too bad he chickened out when all of the $TSLAQ goons went after him.
Lesson learned: Stick to your guns, and follow what you believe in. Don’t cave to pressure. Say what you really mean, even when it’s unpopular.
It’s amazing that the anti-Tesla trolls managed to convince Jonas that Tesla could be worth $10. As we look back at the TSLAQ disinformation campaign in the rear view mirror, it’s time for the SEC to investigate those responsible. The leaders of the fraud should have assets confiscated to reimburse their victims, and criminal charges should be considered.