Is Now A Good Time To Buy Tesla Stock? Nancy Tengler Weighs In

Tesla Inc TSLA CEO Elon Musk spent the last two days in court defending Tesla's $2.6 billion acquisition of SolarCity in 2016.

Kelly Evans, host of CNBC's "The Exchange," asked Laffer Tengler Investments' Nancy Tengler what she thought about Tesla stock on Tuesday.

Tengler told CNBC that she used to own Tesla stock, but she sold it when Musk was publicly "smoking his bong" because she felt Tesla lacked leadership.

She probably should have bought the stock again when Oracle Corporation's ORCL Larry Ellison joined the board, she said. 

Tesla is a stock that investors with a long-term time horizon want to own, Tengler said. The stock has been consolidating for quite some time, so she said it's probably a good time to take a position. 

Tengler noted she is yet to buy Tesla stock again, but she is "watching it very closely."

Related Link: Tesla Gets Flooded With Orders For New Lower-Priced Model Y In China: Report

TSLA Price Action: Tesla has traded as high as $900.40 and as low as $273 over a 52-week period.

At last check Tuesday, the stock was down 2.50% at $668.54.

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Photo: Courtesy of Tesla.