Tesla’s share price achieved a new record close on Wall Street on Tuesday, exceeding its previous all-time high from nearly a year ago. Shares in the electric vehicle company rallied by more than 3 per cent, reaching a record of $US490.30 with only 15 minutes remaining in the trading session. Tesla, led by Elon Musk, has provided investors with a 30 per cent return so far this year and has doubled in value over the past five years. Tesla designs, develops, manufactures, and sells electric vehicles, energy generation and storage systems. The company also operates a network of charging stations for its vehicles.
The recent surge in Tesla’s stock price can be attributed to Elon Musk’s announcement that Tesla has been testing driverless vehicles in Texas without any occupants. This revelation has significantly boosted investor sentiment, fueling optimism that the company is on the verge of fulfilling its pledge to transform electric vehicles into fully autonomous robotaxis.
These developments have instilled confidence among investors regarding Tesla’s future prospects in the autonomous vehicle market. As Tesla continues to innovate and push the boundaries of self-driving technology, market analysts will be keenly watching the company’s progress.
