Tesla Inc. shares experienced a significant surge on Friday, pushing the company's market value back above $1 trillion.
The stock rallied impressively, climbing as much as 11% to reach $328.71 by 2:14 p.m. in New York. This marked a year-to-date gain of over 32%. Investors are optimistic about the potential benefits Elon Musk's company could receive from Donald Trump's return to the White House, which has contributed to the stock's impressive performance.
In order to maintain a market value exceeding $1 trillion, Tesla's shares need to close above $311.52, a level that has not been seen since April 2022. This resurgence has placed Tesla in an exclusive group of just seven companies in the S&P 500 Index with a market capitalization of over $1 trillion, demonstrating the high level of investor confidence in the company's future prospects.