The Morgan Stanley auto analyst Adam Jonas argued that Tesla is "fundamentally overvalued" but "strategically undervalued." That's a typically Jonas insight, in that it seeks to reconcile a contradiction. It's true: Tesla is vulnerable short-term, but valuable long-term if a significant electric-vehicle market emerges. Visit Business Insider's homepage for more stories. Last week, in a research note assessing the connections between the car and technology industries, Morgan Stanley's lead...
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