"All [Tesla] does is eat cash," Munson told TheStreet.
He questioned how long Wall Street will put up with the fact that Tesla is not profitable and continuously overpromises and underdelivers.
Tesla, however, managed to meet its goal of producing 5,000 Model 3s in the last week of the second quarter and is aiming to ramp up production to 6,000 Model 3 cars per week.
"I would say if you really believe in it, I'd say great, I have magic beans to sell you," said Munson.
That said, Munson believes the cars are "phenomenal."