Car enthusiasts rushed to pre-order Tesla's new, cheaper car. As of today, more than 200,000 orders have been placed for the Model 3.
Still, that was not enough to encourage CNBC's panel of all star traders to buying the stock. Shares are up 65 per cent since the so-called "Dimon Bottom." Questions about the company's high valuation remains a top concern.
"I think you avoid it if you're not already in the name," said trader Josh Brown. "It's really tough to make the case that you're getting anything reasonable here at this valuation."
That sentiment was echoed by value investor Jim Lebenthal. He added "the fundamentals simply do not support a higher price here."
Tesla: Car Company or Tech Company?
"Tesla is technology company for sure," said Stephanie Link, Active Equities Portfolio Manager at TIAA Global Asset Management. "The company is a game changer."
"There's no other car in the history of the automotive industry we're aware of which has had this kind of consumer reaction," said George Galliers, equity analyst at Evercore ISI.
The bottom line: it will be some time before we see if the Model 3 lives up to the hype.