The stock trades over $600 a share.
JPMorgan analyst Ryan Brinkman reflected some of the concern on Wall Street of the pace of Tesla's meteoric rise this year, which has added more than 660% to the company's share price as well as adding more than half a trillion dollars to the company's market value. Tesla's net income for the third quarter of this year was $337 million.
"We have recently fielded a number of calls from long-only investors who are faced with, or shortly will be faced with, the decision of whether or not to buy Tesla shares as the stock is added to the S&P 500 index, given that many funds' performance is evaluated against this benchmark," Brinkman wrote.
Jim Cramer breaks down why Wall Street still finds Tesla a hard to grasp in the video above.
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