Tesla, Inc. (NASDAQ: TSLA) and its celebrated CEO Elon Musk has a cult-like following and most supporters continue to put their faith in the electric vehicle maker’s stock despite its lean run in 2022.

“Anybody betting against Elon Musk might as well [have] been betting against Steve Jobs back in the day,” the Wall Street analyst said.

"We know how this is going to play out. He unleashes just incredible transformation in every industry he touches. He is not getting stopped anytime soon, he's got enough money to do what he wants, he's got a clear vision," Fitz-Gerald said.

“I think it [Tesla Stock] goes back to $300 a lot quicker than people think.”

Tesla has rallied about 60% in just 28 sessions of 2023. After breaking above $200 and settling at $207.32 on Thursday, the stock pulled back along with the broader market on Friday, dragged by inflation fears.