Elon Musk speaks at Tesla Investor Day.

Courtesy: Tesla

Tesla the stock continued to fall Thursday morning, a move that began the day before under Tesla’s Events for Investor Daywhich gave investors a long-term vision but lacked details about new products or services.

The electric car maker’s stock fell about 5%, despite earlier losses positive analyst reaction to CEO Elon Musk’s presentation and to Tesla’s overall vision. Musk and his executives reiterated a 2030 production goal of 20 million vehicles annually at the event, which consisted of a three-hour presentation followed by a question-and-answer session.

“In a race to the bottom, we seriously question how the competition can keep up,” Morgan Stanley auto analyst Adam Jonas wrote in a Thursday note. Jonas has an overweight rating and set a $220 price target on the stock.

Goldman Sachs maintained a buy rating and a $200 price target, and analyst Mark Delaney wrote Thursday that “the event reinforced our positive view of the company’s long-term competitive position.”

But Delaney warned that “the vagueness beyond the comment that they are working as fast as they can and it could be in the next few years is likely to be seen as disappointing to some.”

Musk unveiled the third part of his “Master Plan,” an update to his ambitious 2016 Master Plan Part Deux. The goals of that plan, which included allowing Tesla owners to “monetize” their car while it would otherwise have been sitting idle, have yet to be met. Tesla shares are up more than 80% year-to-date, but are still far from the 2021 highs that pushed the stock above $400.

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

Tesla shares fall more than 5% after close as Investor Day fails to provide details