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Tesla shares reach new high

July 1, 2013: 4:45 PM ET

Tesla's stock has been on a tear all year

Tesla's stock soared into record territory Monday after the electric car maker received another upgrade from Wall Street analysts.

Tesla (TSLA) shares endedĀ the day at a record $117.18, gaining more thanĀ 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.

JayMcGill
$TSLA indeed could be the future. Getting in early, ahead of the curve. Innovation. All I have to say is WOW

For some traders, Tesla might even be a ticket to early retirement.

spongerrich
I'm long $TSLA bought in at different levels. I've made more $$ in 1mo than 6mo of my 9-5 job. #quittingmyjob LOL!

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.

TeslaMan
$TSLA getting a little hard to breath up here

More than a few are betting the stock will fall.

jedge7
Still holding the short inn $TSLA, not fun, but at least it is back stopped http://stks.co/dZjL

BennyB
$TSLA TIME TO SHORT HERE WE GO AGAIN

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.

madnessssss
$TSLA Lots of desperate shorts trying to call a top

SkepticalBull
Still can't believe the high short interest in $TRLA and $Z. These two are the $PCLN of real estate. Setting up for a $TSLA style squeeze!

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.

TheProfessor
$TSLA smash! Timing timing timing. Tesla the $AAPL of cars.

Of course, Tesla bulls don't see it that way.

vermut
$TSLA This name will remain huge for years like $AAPL until 2012. Join the success now. Will be over $200 in 2014 and over $400 in 2016

TXplunger
$TSLA AAPL is a busted name, please even disgrace this board with that loser

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Ben Rooney
Ben Rooney
Staff writer, CNNMoney

Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: @ben_rooney

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