Elon Musk’s mea culpa may not be enough.

Barely two days after Tesla CEO Musk officially scuttled any deal to take his company private, critics of the electric-car maker seized on his backtracking as a reason for investors to avoid the company.

“The question remains whether Tesla stock is even investable at this point,” Michael Lewitt, a former Drexel Burnham investment banker and author of “The Credit Strategist,” who’s shorting the stock, wrote in a report.

Earlier this month, Musk had said that he had “funding secured” to take the company private at $420 a share.

He later said the agreement was informal.