Steve Grasso Says Tesla Has 'Defied All Laws Of Probability'

On CNBC's "Power Lunch," Steve Grasso said that Tesla Inc TSLA has "defied all laws of probability." He thinks the restart of its Shanghai plant was the first surge higher.

Grasso would sell Tesla at around $735, but he would watch for the price level of $767 at which the company raised money. He said the stock is going to face resistance between the current price and $767. The risk-reward is definitely stacked in the hands of bears, according to Grasso.

Tesla closed Wednesday's session up 2.8% at $729.83 per share. The stock has a 52-week high of $968.99 and a 52-week low of $176.99 per share.

Related Links:

Tesla's Stock Keeps Rising After Goldman Sachs Gives Shares $864 Price Target

Tesla China Car Registrations Buck Industry Slump In March