Too much going on with Tesla to 'feel good about putting more money' into stock -CIO

STORY: Tesla on Wednesday reported a smaller-than-expected drop in quarterly profit, helped by a string of price increases for its cars, which Elon Musk later said were "embarrassingly high" and could hurt demand.

Tesla also sold a majority of its bitcoin holdings, which led to smaller-than-expected impairment charges caused by a decline in the value of the cryptocurrency, analysts said.

Meanwhile, Musk faces other issues beyond production and demand for electric vehicles, including his effort to escape from a deal to buy Twitter.

"There's just so much going on with the company and with the founder," said Mahn. "It's really heard to disentangle all of those elements to feel good about putting more money into that company, at least for the time being."