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Tesla Shares Surge to Record $420, Up 200% Since April, Market Cap Hits $1.33 Trillion

Dec 11, 2024, 05:37 PM

Tesla Inc.'s stock surged to new all-time highs, reaching $420.69 per share for the first time since November 2021, surpassing the previous record of $414.50. The electric vehicle manufacturer's market capitalization now stands at $1.33 trillion. The stock's rise has been attributed to increased demand for Tesla's Full Self-Driving (FSD) technology, with FSD version 13 rolling out, and investor optimism surrounding the company's humanoid robot, Optimus. Tesla's shares have gained approximately 200% since April when the stock was at $138, and about 65% since the U.S. election, buoyed by optimism that President-elect Donald Trump's policies could boost the company's self-driving ambitions. Tesla shares climbed as much as 3.5% intraday.