Tesla Hits New All-Time High

The stock went on a tear on Tuesday, after Morgan Stanley's Adam Jonas raised his price target to $320, from $153.

Today, Jason Schwarz of TheStreet.com argued Tesla is more of a tech company than the likes of Facebook. From Schwarz:

"Tesla's market cap sits at a paltry $31 billion compared to Facebook at $178 billion, Google at $410 billion and Apple at $470 billion. Tesla could be headed to $1,000 over the next 3 years to 5 years based on these market cap comparisons." Schwarz is long position Tesla.

In the past couple of weeks, the stock got a boost from speculation that Apple was in talks to buy Tesla, which was later discredited. It also got a boost after the green auto maker announced 2014 sales forecasts and beat Q4 earnings expectations.

Tesla is also expected to make an announcement about its Gigafactory this week that is intended to design batteries for mass market cars.

Here's a look at Tesla's stunning run up since it announced its first quarterly profit last year.