1/ Less than six months ago, on a joint call with Morgan Stanley's high yield analyst, Adam Jonas referred to Tesla as a "controlled detonation" and used the word "restructuring" numerous times. The high yield analyst spoke of the crushing burden of liabilities.
2/ Morgan Stanley's wealth advisors appear to be smart enough to not listen to Jonas, and perhaps are more interested in protecting their clients' assets than Jonas is. MS Wealth has been a relentless net seller of $TSLA. Of course, MS is the largest holder of ARKK so. . . 
3/ As a former sell-side analyst, this is painful to watch. It is near impossible to see how to get from a controlled detonation to bullish in the face of secular declines in Tesla's highest margin products and that comically fraudulent 3Q2019 10-Q.
4/ Of course this was done to cement MS's position (or improve it) in the next capital raise, whenever it comes. But bears should latch on to this as good news. If a credible analyst that actually looked deeply and honestly at the story had flipped, it would be news.
But this is just shameless pumping. There are 300 people in $TSLAQ that understand Tesla better than Jonas. Besides the joke shareholder base, another pillar of our short thesis is that not one credible sell-side analyst likes this stock.
