Tesla shares, which are up more than 400% this year, surged as much as 7% at one point to an all-time high of $173 per share, pushing the company’s market value briefly above $20 billion. The stock pulled back at the end of the day and finished up only 1.5%.
The likely catalyst for the latest move in Elon Musk’s electric car company? Tesla sales topped those of the Porsche, Jaguar, Volvo, Land Rover and Lincoln in the Golden State, according to the California New Car Dealers Association.
Tesla continues to be a favorite topic among traders on StockTwits, who are mostly bullish on the car maker.
The-CNN-Wire™ & © 2013 Cable News Network, Inc., a Time Warner Company. All rights reserved.