According to @garyblack00, TSLA fell 3.4% yesterday mainly because MS downgraded the stock to Hold from Buy, which pressured the multiple; source: Gary Black on X, Dec 9, 2025, https://twitter.com/garyblack00/status/1998331395500814720. He adds that investors are questioning whether Optimus is being tele-operated rather than AI-driven, which would limit scalability; source: Gary Black on X, Dec 9, 2025, https://twitter.com/garyblack00/status/1998331395500814720. He further argues that if Robotaxis require one-to-one safety monitors, the model is not scalable and TSLA should not trade at a 2026 P/E near 200x versus long-term consensus EPS growth of 35%; source: Gary Black on X, Dec 9, 2025, https://twitter.com/garyblack00/status/1998331395500814720.

According to @garyblack00, yesterday’s TSLA decline was driven primarily by Morgan Stanley downgrading TSLA to Hold from Buy, which he identifies as the dominant factor, source: @garyblack00. According to @garyblack00, investors are also questioning whether Optimus is being tele-operated from afar rather than being AI-driven, raising concerns that the platform is not scalable, source: @garyblack00. According to @garyblack00, the same scalability issue applies to Robotaxis if each vehicle requires a safety monitor, weakening the economic model, source: @garyblack00. According to @garyblack00, these concerns can pressure the AI-driven optionality premium in TSLA’s valuation and near-term sentiment until scalable autonomy is demonstrated, source: @garyblack00.