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Elon Musk and Jamie Dimon Reportedly Don't Get Along

JPMorgan sued Tesla last week, saying the EV producer owes it $162 million from a trade it helped arrange seven years ago.
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JPMorgan Chase's  (JPM) - Get JPMorgan Chase & Co. (JPM) Report lawsuit against former client Tesla  (TSLA) - Get Tesla Inc Report last week might lead you to believe that the two companies’ chief executives, Jamie Dimon and Elon Musk, aren’t exactly buddy-buddy.

That’s indeed the case, The Wall Street Journal reports, citing knowledgeable sources.

Officials at the companies have gotten upset with each other over the years. And when Dimon and Musk have attempted to repair the damage, they got into it themselves, the sources said.

JPMorgan has wanted to distance itself from Tesla for a while, they said. In its suit last week, the bank said Tesla owes it $162 million from a trade it helped arrange seven years ago.

Musk’s response to The Journal: “If JPM doesn’t withdraw their lawsuit, I will give them a one star review on Yelp. This is my final warning!”

The brouhaha certainly isn’t hurting either company’s stock Monday. Tesla recently traded at $1,168.50, up 2.8%, and JPMorgan at $165.42, up 2.8%.

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Morningstar analyst Seth Goldstein puts fair value for Tesla at $680, giving it a narrow moat.

“Since reaching an all-time high of $1,243 per share in early November, Tesla's stock has fallen over 20%,” he wrote last Monday.

“We think some of the selloff has been due to the market readjusting its long-term expectations for the company amid increasing competition.

“However, with [the] shares still trading roughly 45% above our fair value estimate and in 2-star territory, we continue to view Tesla as overvalued.”

The market is assuming Tesla becomes a top-five global automaker in sales, but Goldstein sees top 10 as more likely.

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