The electric automaker is slated to unveil its highly anticipated Model 3 Thursday evening. People camped out as early as Tuesday outside of Tesla dealerships in hopes of being among the first to pre-order the new vehicle. On Thursday, Apple launched new products outside of its typical cycle, but to less fanfare.
The traders argued whether this product release hype will be a successful predictor of Tesla's stock performance. Trader Tim Seymour had his doubts.
"I think this is the time that Tesla really has to figure out, are they going for the luxury, high-end, or are they really trying to be the masses; and I'm not sure they get the masses," he said.