Tesla has rallied 55% in the last 3 months—here’s where two investing pros would buy in

PUBLISHED MON, DEC 2 20197:00 AM EST

Lizzy Gurdus@LIZZYGURDUS,CNBC NEWS

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Tesla has rallied 55% in the last 3 months—here’s where two investing pros would buy in

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Tesla has rallied 55% in the last 3 months—here’s where two investing pros would buy in
PUBLISHED MON, DEC 2 20197:00 AM EST

Lizzy Gurdus@LIZZYGURDUS

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VIDEO03:37
Tesla stock has been a ‘turkey’ this year-to-date: Investing pro

Tesla is on a tear.

Shares of the electric automaker have climbed a blowout 55% in the last three months, a notable turn for a stock that has struggled this year. As of last week, Tesla was practically flat for 2019 versus the S&P 500′s almost 26% gain.

With Tesla’s Cybertruck announcement creating buzz and, for some, boosting the stock’s bull case, investors may be taking a second look at the name, particularly after Tesla CEO Elon Musk suggested in a tweet Wednesday that the company had received 250,000 orders for the futuristic-looking pickup.

But some investing pros, like Piper Jaffray’s Craig Johnson, feel the stock has run too far, too fast.

“The stock essentially stuck in a trading range between about 240 and the upper end of the range at 385,” the firm’s senior technical research analyst said Wednesday on CNBC’s “Trading Nation,” citing Tesla’s five-year chart.

Tesla shares closed just below $330 on Friday.

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