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.
Shares of Tesla Motors drifted higher Tuesday ahead of the electric car company's annual shareholder meeting.
Tesla (TSLA) shares have surged more than 180% this year, although the stock has pulled back from a high above $110 last month.
Investors are keeping an eye on the meeting for any announcements that could drive the stock back up, but so far the news has been pretty dull.
Tesla executives apparently discussed the company's warranty MOREBen Rooney - Jun 4, 2013 3:30 PM ET
No cruise control for Tesla.
Shares of the electric car maker took off Tuesday, racing to a new high above $60 right out of the gate. But by late morning, the enthusiasm had chilled, and the stock was down about 3%.
The supercharged moves come one day before Tesla (TSLA) is set to report its first quarterly profit ever.
And it's all thanks to the all-electric Model S.
The full-size, four-door luxury sports sedan was MORECatherine Tymkiw - May 7, 2013 11:12 AM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
Tesla may be the Apple of the auto business. By that, I mean it's a company that's disrupting an entire industry ... not that it's a stock going nowhere fast.
When you look at Tesla (TSLA) MOREPaul R. La Monica - Apr 23, 2013 1:09 PM ET
The idea of a driving an electric car has always intrigued me, but after reading a New York Times review of the Tesla (TSLA) Model S on I-95, it sounds like a total nightmare.
According to the writer, the battery on the Model S drained much quicker than promised in cold weather during a recent trip up and down the East Coast. With only a few charging stations in the Northeast, the writer was forced MOREMaureen Farrell - Feb 11, 2013 3:02 PM ET
Not a member yet?Sign up now for a free account
|American Airlines, US Airways to form largest air carrier Monday|
|Japan's economy looks weaker after GDP revision|
|Boost for trade as global deal struck|
|Someone bought a $100,000 Tesla with Bitcoins|
|2 million Facebook, Gmail and Twitter passwords stolen in massive hack|