Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Tesla Motors (NASDAQ:TSLA) were on fire today, jumping 27% after the company posted its first quarterly profit.

So what: Tesla posted first-quarter revenue of $562 million, well above the $492 million estimate, and said it expects to deliver 21,000 Model S cars this year. Earnings per share of $0.12 was well above expectations and the company appears to be moving into profitable operations much more quickly than expected.

Now what: There really aren't any blemishes on Tesla's report and potential demand for 30,000 Model S's this year is a great sign. This is clearly the leader in electric vehicles and there don't appear to be any competitors coming close to Tesla's technology or quality. This is a huge jump, and I'd have a hard time buying at the current price, but I'm certainly not a seller here and would hold this stock for the long term.