Tesla shares reach new highJuly 1, 2013: 4:45 PM ET
Tesla's stock soared into record territory Monday after the electric car maker received another upgrade from Wall Street analysts.
Tesla (TSLA) shares ended the day at a record $117.18, gaining more than 9%.
The rally came after analysts at Jefferies raised their price target to $130, saying the company is likely to report stronger-than-expected sales of the new Model S this year.
Tesla's stock price has exploded. It's gained a whopping 240% in the past six months and has risen more than sevenfold since the company's June 2010 IPO.
Tesla fans say the company, founded by serial entrepreneur Elon Musk, will transform the auto industry.
The stock is a favorite among StockTwits users.
For some traders, Tesla might even be a ticket to early retirement.
Of course, not all investors are on the Tesla bandwagon. Some say the stock price is a bit too lofty for a company that is expected to merely break even this year.
More than a few are betting the stock will fall.
Yet the shorts have been burned by Tesla before.
The stock's rally since April has been driven partly by investors buying back shares to unwind bets the price would fall.
Short interest may be high but it's down sharply from two months ago.
Tesla critics often compare the company to another Wall Street darling that has recently fallen out of favor.
Of course, Tesla bulls don't see it that way.