Should Tesla investors be concerned? In 2023, 17 long-term investors with $1.5 billion in Tesla shares wrote to the board of directors expressing their concerns. Tesla shares rallyRecent sentiment around Tesla has been positive, with its share price up 35% over the past month alone following a rough start to the year. As well as the promise of a hefty pay package, he purchased $1 billion more Tesla shares in September – a vote of confidence in the stock. Morningstar views Tesla shares as “significantly overvalued”.