One of Tesla Motor Inc. strongest supporters on Wall Street issued a cautious report on the maker of luxury electric cars today, sending its shares skidding 9.1 percent.

Adam Jonas, an analyst for Morgan Stanley who has an “overweight” rating on Tesla, wrote today that he agrees with Chief Executive Officer Elon Musk that “the share price was a bit ahead of itself.” The shares fell $25.34 today to $253.86 in New York.

Jonas issued four “sobering factors to consider” about Tesla. He wrote that electric vehicles are “failing categorically on a global scale,” warned that Tesla’s growth may be limited in China, that battery-powered cars still require technological breakthroughs to become mainstream and that the dawn of driverless cars threaten Tesla’s reason for being.

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