By Chuck Mikolajczak
NEW YORK (Reuters) – Tesla shares climbed to a record high of $415 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 Nov. 3, 2021, but a rally of about 65% since the Nov. 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.
Tesla China said late Tuesday 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 shares were last up 3.1% at $413.26 on the session.
(Reporting by Chuck Mikolajczak; Editing by Alden Bentley and Chizu Nomiyama)