Shares of Tesla Motors Inc (NASDAQ:TSLA) fell to nearly $185 today before partially recovering but remaining down by more than 2% in afternoon trading. The stock dipped below $200 on Monday for the first time in quite a while, and shares have declined more than 14% in just the last 30 days.

Tesla Motors TSLA

So is this trend going to turn back around? Even those who say they love Tesla Motors Inc (NASDAQ:TSLA) on StockTwits.com (via The Street) don’t think so, at least in the next few months.

Tesla sentiment split nearly 50 / 50

On StockTwits, 52% of investors are bearish on Tesla Motors Inc (NASDAQ:TSLA). Short interest is reportedly almost 29% of the float. In fact, the automaker is the most-shorted stock on the NASDAQ 100.

Part of the reason sentiment on Tesla Motors Inc (NASDAQ:TSLA) is turning around is because of concern about the bull market in general. The automaker’s stock is just one of many momentum stocks which have been affected by this turnaround. And with concerns about the bull market comes more of an emphasis on Tesla’s fundamentals and near-term valuation—two things Tesla bulls know are the weak spots in their case. After all, at the current valuation, Tesla’s share price is a 2015 forward earnings ratio of almost 52.

Will Tesla be back when the market steadies?

Most bulls say even though Tesla Motors Inc (NASDAQ:TSLA) may not be worth its enormous market capitalization right now, it will be one day. They see CEO Elon Musk as a visionary who will put a Tesla battery in every home, one way or another whether it’s part of one of Tesla’s vehicles or an energy storage system for SolarCity Corp (NASDAQ:SCTY)’s solar panels.

Some investors on StockTwits remain concerned that the markets will stabilize in June, and they think investors’ appetites for risk will return. At least one person said on the form that he was buying June calls for Tesla Motors Inc (NASDAQ:TSLA).