Thursday Wall Street was all worked up about the announcement of Tesla's (TSLA  ) new semi truck which is slated to be one "beast" of a semi. CEO Elon Musk tweeted about the upcoming test ride which is scheduled for October 26th and this sent the bulls rushing into the stock.

Thursday the stock soared 3.12% on the news, pushing shares to a new, three month high. The bullish sentiment was so strong that shares closed at their highest prices of the day on volume that was just above average. For the year shares are up over 75%, and if you go back twelve months you will see almost a 100% increase. The stock, which has an almost Apple like, cult following is now less than 3% from making new record highs.

Not everyone is in love with Tesla and their new ventures though. Many feel like this semi truck announcement and showmanship is just setting the stage for another round of capital raising. Remember that Tesla doesn't make money off the electric cars yet. Similar to Amazon (AMZN  ), Tesla is making the promise of future profits as they scale. One has to wonder if they can't make any money off the cars, how will a semi truck fit into the equation.

There is no doubt that Tesla has delivered everything they hoped to and done it in extreme fashion. The question is, is the stock really worth these prices considering the underlying fundamentals? Ask the average investor what they are invested in and Tesla inevitably comes up. Ask them why and they have no real answer. It's seems similar to bitcoin. Everyone is enthralled with the performance of bitcoin and wants to be a part of it. Prices surged to an unsustainable level and have recently crashed. Will everyone start asking the same question in Tesla...Why?