Here are Johnson's reasons for why he believes Tesla's share price will eventually fall below $30 a share.

Declining Margins: Johnson pointed out on PreMarket Prep that Tesla's margins are declining and that growth in car sales has declined, and that while Tesla does have other potential revenue streams on the horizon, the company still makes the vast majority of its income through selling cars.

"Effectively with Tesla, what you have is a company that I think that [Elon] Musk is promoting a lot of smoke and mirrors to hide the fact that he owns a car company with declining margins that has basically went ex growth," Johnson said.

Tesla reported lower revenue in Q1 of 2024 compared to its revenue in the same period last year, according to Benzinga Pro.

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"If you simply go on YouTube and look at videos, you'll see that with these [Tesla] robotaxis literally they're driving around and within an hour without human intervention, these things would be crashing… they're nowhere near being robotaxis despite the fact that's what everyone calls them because Musk calls them that."

Click here to watch Johnson's full interview on Benzinga's PreMarket Prep. 

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Photo: Benzinga