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Tesla Stock Surges Over $300, Hits $1 Trillion Market Cap After 30% Weekly Gain

Nov 8, 2024, 03:28 PM

Tesla Inc. (TSLA) shares have surged past $300, reaching their highest level since September 2022. The electric vehicle manufacturer's market capitalization has surpassed $1 trillion for the first time since 2022. The stock has risen approximately 30% over the last week, with a significant increase of $200 billion in market capitalization since Tuesday's close. On the most recent trading day, Tesla shares closed at $296.91, and intraday highs reached over $306.50. Investors are optimistic about the company's growth prospects, and the stock is now about 33% away from its all-time high. Analysts are eyeing the next target of $335 per share.