Tesla looks like bitcoin and there’s one way to benefit, trader says

Tesla has been on a wild ride this week.

A massive surge on Monday and Tuesday sent shares up nearly 50% over those two days, but a decline on Wednesday and pause on Thursday reduced those gains to 14% on the week.

Todd Gordon, managing director of Ascent Wealth Partners, says the surprise surge could continue — and he uses an unconventional comparison to make the case.

“We’re going to look at the hot story stock here — Tesla. An unbelievable run that rivals that parabolic move that we saw even in bitcoin last year and the year before that,” Gordon said Thursday on CNBC’s “Trading Nation.”

Bitcoin went from less than $3,000 in mid-2017 to a peak above $20,000 by the end of that year. Tesla’s charts have shown similar steep moves — shares are up 315% from a June low.

“We’ve seen a pretty strong — very strong — historic move up and a pretty subsequent, impressive pullback here. So, from about [$969] we’ve pulled back to $700 here,” said Gordon.

Tesla hit that record high on…