Kevin O’Leary, serial entrepreneur and Shark Tank star, just dumped on Tesla and its stock valuation in a TheStreet interview.

When asked to expand upon his thoughts on Tesla’s Q3 slide, Leary did not hold back any punches. He cited several fundamental issues afflicting the stock, with its exaggerated valuation and “stupid multiples” as major concerns.

One issue was Tesla’s non-label as a traditional car company and perceived invincibility of its stock.

According to O’Leary, Tesla is not being held accountable for issues affecting the stock price of conventional car companies, such as production bottlenecks, proprietary versus nonproprietary capabilities, profitability concerns, and recalls. O’Leary says Tesla is not being held to the same standard as BMW, Ford, Hyundai, and Kia.

“At some point, I don’t know when, you’re going to wake up as an investor and say this company walks like a duck, quacks like a duck and must be a duck — in other words, it’s a car company,” O’Leary said. “It has the same problems car companies have.”

O’Leary also ominously predicts that “grown men will weep” after a possible future trajectory for its current stock, dipping from the $300s to under $100 as soon as the “market decides it is a car company.” In an almost mocking tone, he also distinguishes Tesla from other high growth tech stocks many consider as Tesla’s peers.

“I’m not trying to say it is not a great investment,” cautioned O’Leary. “I don’t own it, I never would, it doesn’t make any money, but it’s a car company. It’s not a social media stock, it’s not Facebook, it’s not Alphabet, it’s not Amazon. It has four wheels, it rolls around – it’s a car company.”

Tesla’s reported third-quarter loss of $619 million reverberated across the entire EV spectrum, shock-waving the stock prices of automakers, suppliers, and lithium producers. ETFs such as Global X Lithium and Battery Tech (currently the only ETF that focuses on lithium) saw a sharp decline after being up 63 percent year-to-date, despite Tesla only constituting 4.9 percent of holdings. Others, such as senior lithium miners Sociedad Quimica y Minera Chile and Albemarle, also saw steep declines.

Many critics have openly debated Tesla’s current valuation, and future production capabilities despite supply concerns in what many see is a stock valued by its potential, not by execution and supply. In March 2016, Musk made a remark about needing the entire world’s lithium-ion production to produce 500,000 cars a year, raising many red flags about the readiness of finitely sourced lithium miners and other partners to feed demand.

In Q3, Tesla also produced only 220 Model 3s in Q3, a paltry number compared to Elon Musk’s original forecast of 1,500. Now, Tesla expects to produce 20,000 Model 3s by the end of Q1 2018.