NEW YORK – Tesla (NASDAQ: TSLA) shares climbed to a record high of $419.24 on Wednesday, topping its prior high of $414.50 set more than three years ago as the electric vehicle maker extended a rally in the wake of the U.S. presidential election.
Shares of Tesla previously hit a record on November 3, 2021, but a rally of about 65% since the November 5 election has lifted the stock to new heights, as investors expect the company to benefit from CEO Elon Musk’s relationship with President-elect Donald Trump.
Late Tuesday, Tesla China said the automaker sold 21,900 electric vehicles in the world’s second-largest economy for the first week of December, its highest weekly sales for the fourth quarter of this year.
Tesla (NASDAQ: TSLA) shares last traded at $419.24, up 4.55% in the session.
