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Tesla Stock Closes at Record $424.77, Up 69% YTD, After Hitting $420.69 Milestone

Dec 11, 2024, 09:31 PM

Tesla Inc. ($TSLA) has surged to a new all-time high, closing at $424.77, marking a 69% increase year-to-date (YTD) and a 5.9% rise on the day. The stock hit an intraday peak of $420.69, a figure that has garnered significant attention and amusement among investors and social media users. This milestone comes after a $515 billion rally in the company's market cap since the U.S. presidential election on November 5, when Donald Trump was re-elected. The surge is attributed to optimism surrounding Tesla's autonomous driving ambitions, which are expected to receive a boost under the Trump administration. Tesla's market value has now reached $1.36 trillion, and the stock has received upgrades from several analysts, with Daiwa Capital Markets raising its price target to $420 from $285.