How to value Tesla now

There's no doubt Tesla's incredible run has Wall Street's mind boggled, but the performance also seems to have its own CEO scratching his head.

At a press conference following Tesla's announcement Thursday that Nevada will be the home of its new $5 billion gigafactory, CEO Elon Musk casted some doubt on the company's ability to maintain its stock price. "I do think people sometimes get carried away with our stock," he told CNBC's Phil Lebeau. "I think our stock price is kind of high."

Musk went on to say that as a long-term investment, Tesla is at the right price, but described the near-term as being unclear.

(Read MoreElon Musk: Tesla stock is 'kind of high' now)

Investors listened closely, as shares of the electric automaker dropped more than 2 percent Friday. So, what can be expected in the coming months?

"Tesla is an emerging technology. So, it will either do extremely well or extremely poorly, and there's really no in between," said Chantico Global's Gina Sanchez. "For some perspective, in less than 10 years, Tesla has attempted to build an infrastructure to compete with what the auto industry has accomplished in 100 years."

According to Sanchez, in order for Tesla to truly be worth its stock price, three things must happen: The company should establish more charging stations, increase battery production, and the market must stabilize onto one technology. "If all of those things happen, we are cheap. If none of those things happen, we are extremely overpriced."

Auerbach Grayson's Richard Ross said when it comes to Tesla, the risk is commensurate with the reward. "If you're in it for the long haul then you just have to buy a small position and let it ride. But for the short-term traders, it could go down as fast as it goes up."

Ross pointed out that the stock recently emerged from a six-month rounded base of support, and pushed past the old high of $265 per share. "What you want to do is use that $265 [per share] level as a protective stop. If we fall back below that level you want to be a seller if you are a short-term trader."

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