$Tesla(TSLA.US)$ winning streak has entered its second day. The electric vehicle (EV) leader just received a ringing endorsement from a market expert. According to Garret Nelson of CFRA, buying TSLA stock at its current levels is a "generational investment opportunity" that investors shouldn't overlook. Wall Street has soured on high growth tech stocks since the selloff began but Nelson thinks that this bearish sentiment has been unfair to Tesla in particular.

What's Happening With TSLA Stock

TSLA stock is off to a good start this morning. Shares surged as markets opened, 3.4% in the first hour of trading. While its gains stabilized fairly quickly, the stock starting moving upwards again. As of this writing, it is up almost 4% for the day and looks primed to continuing its upward trajectory. After last week's turbulence, Tesla appears to have regained some of its momentum.

A Generational Opportunity

As Nelson sees it, TSLA stock has been "unfairly punished" during the recent selloff. The Federal Reserve's recent rate hike generated considerable turbulence among markets as tech stocks tumbled across the board. But other events, such as Elon Musk's quest to acquire $Twitter(TWTR.US)$ has caused analysts to issue bearish takes on Tesla. While some experts have speculated that it will push TSLA stock down, Nelson maintains that his own price target of $1,200 "will prove conservative" despite implying 69% upside from its recent closing price.

Nelson doesn't just expect Tesla to grow. He thinks it has the long-term growth potential that investors have seen from companies such as $Apple(AAPL.US)$ and $Amazon(AMZN.US)$. This is why he sees it as a "generational investment opportunity" that will pay dividends for years to come. And he thinks that its current low price presents a perfect opportunity to buy in and profit later on. As he recently stated in a note to clients;

In our view, these factors have overshadowed several key positives in the Tesla story: exceptional operational and earnings execution, future production growth from the recent startup of the Austin and Berlin factories, dramatic balance sheet improvement, and an impressive pipeline of future products.

This argument makes a lot of sense. But there remains one factor that Nelson did not account for: the upcoming TSLA stock split. Tesla wants to split its stock again and shareholders are voting on August 4. If it goes through, as it likely will, individual share prices will be lowered even more and new investors will seize on the opportunity.

The Bottom Line

Nelson isn't the only expert who sees TSLA stock as a key investment opportunity. InvestorPlace contributor Chris Tyler recently stated that "Tesla stock is a strong buy if you time it right." Investors who buy in now are going to do exactly that, particularly if they do it before the stock split. Tesla's first stock split generated significant returns for investors and Elon Musk is expecting similar results this time around.

If it goes well, Nelson's prediction should be proven correct. Tesla has struggled throughout the quarter but yesterday it led a rally for EV stocks. Investors should remember that even strong macroeconomic headwinds haven't kept TSLA down for long and they aren't likely to this summer.