Tesla shares continued sliding Thursday, a motion that started the prior day throughout the firm’s investor day occasion, which offered traders with a long-term imaginative and prescient however lacked element on new services or products.

The electrical car producer’s closed down Thursday over 5.8%, paring earlier losses, regardless of optimistic analyst response to CEO Elon Musk’s presentation and to Tesla’s general outlook. Musk and his executives reiterated a 2030 manufacturing goal of 20 million autos yearly on the occasion, which consisted of a three-hour presentation adopted by a question-and-answer session.

“In a race to the underside, we severely query how the competitors can sustain,” Morgan Stanley auto analyst Adam Jonas wrote in a Thursday notice. Jonas has an chubby ranking and set a $220 value goal for the inventory.

Goldman Sachs maintained a purchase ranking and a $200 value goal, with analyst Mark Delaney writing Thursday that “the occasion strengthened our optimistic view of the corporate’s long-term aggressive positioning.”

However Delaney cautioned that “the shortage of readability past the remark that they are working as quick as they’ll and it may very well be within the subsequent couple of years is prone to be seen as a disappointment to some.”

Musk introduced the third installment of his “Grasp Plan,” an replace to his formidable 2016 “Grasp Plan, Half Deux.” The goals of that plan, which included enabling Tesla homeowners to “earn a living” on their automobile whereas it in any other case would have sat idle, haven’t but been fulfilled. The corporate’s shares are up over 50% yr thus far however stay nicely off of the 2021 excessive, which propelled the inventory value above $400.

— CNBC’s Lora Kolodny and Michael Bloom contributed to this report.

Correction: Tesla shares are up over 50% yr thus far. An earlier model misstated the proportion.