×

200,000 Reasons Not to Buy Tesla

The Halftime Report panel was unanimous in its call: Don't buy Tesla here.

High Flying Valuation

"Tesla is a stock that’s impossible to value. I don’t know how to value the stock but it’s a loved, loved, loved car." -Jim Cramer

Car enthusiasts rushed to pre-order Tesla's new, cheaper car. As of today, more than 200,000 orders have been placed for the Model 3.

Still, that was not enough to encourage CNBC's panel of all star experts to buy the stock. Shares are up 65 percent since the so-called "Dimon Bottom." Questions about the company's high valuation remains a top concern.

Read MoreTesla CEO Musk says Model 3 orders now at 232K

"I think you avoid it if you're not already in the name," said trader Josh Brown. "It's really tough to make the case that you're getting anything reasonable here at this valuation."

That sentiment was echoed by value investor Jim Lebenthal. He added "the fundamentals simply do not support a higher price here."

Tesla: Car Company or Tech Company?

"Tesla is technology company for sure," said Stephanie Link, Active Equities Portfolio Manager at TIAA Global Asset Management. "The company is a game changer."

"There's no other car in the history of the automotive industry we're aware of which has had this kind of consumer reaction," said George Galliers, equity analyst at Evercore ISI.

The bottom line: it will be some time before we see if the Model 3 lives up to the hype.