One reason for the stock's recent drop is a note released by Morgan Stanley on Monday that suggested Tesla had risen for the wrong reasons. Shares also fell after CEO Elon Musk said last week that he thought the stock price was "kind of high right now."
Read MoreTesla prevails in top Massachusetts court over direct sales
To Albertine, those comments are one of the reasons he likes Musk, but it doesn't change his bullish view.
Albertine said he sees two key tailwinds—Tesla can take share from traditional luxury auto manufacturers and can bring a new consumer to a higher-end price point.
Read MoreTesla chooses Nevada for battery factory
"It's a disruptor. It's the only disruptor, quite frankly, that you can invest in if you want to talk about smart vehicles and autonomous manufactured vehicles down the road," Albertine said.
However, Charles Sizemore, chief investment officer of Sizemore Capital, thinks the stock has gotten too expensive.
"There is a price at which it no longer makes sense to buy it," he told "Closing Bell."
Read More Boeing, SpaceX to build NASA 'space taxis'
Compared with high-end automakers, Tesla is trading at a premium, Sizemore said, noting that it is 26 times more expensive than Mercedes-Benz maker Daimler.
Plus, "if the best-case scenario comes true, if Tesla really does take the auto world by storm, if Tesla becomes the new standard, how much of that is priced in?" he asked.
—By CNBC's Michelle Fox
Disclosures: Tesla is an investment banking client of Stifel Nicolaus, and Stifel Nicolaus makes a market in the securities of Tesla. Charles Sizemore and his firm do not own shares of Tesla.