Tesla (TSLA) Hits Another All-Time High, Looks to Break $600 Per Share

The Tesla stock rally continues to keep climbing higher and higher, as another all-time high was reached on Tuesday, ahead of the company’s S&P 500 debut next month.

Tesla reached a high of $559.99 per share, before settling down to $555.38 at the end of the trading day on Tuesday. Tesla’s market cap now stands at a staggering $526 billion.

In after hours, Tesla is up 1.26% and if the stock continues to climb on Wednesday, it should break $600 per share, if it can reach gains of 8% for the day.

The Tesla stock surge has cemented CEO Elon Musk as the world’s second-richest person, according to the Bloomberg Billionaires Index, which tracks the top 500 richest people in the world. Musk remains in second place with a net worth of $136 billion, easily distancing himself from former Microsoft co-founder Bill Gates, who fell to third place yesterday.

With the formal transition from President Donald Trump to President-elect Joe Biden finally underway, the overall stock market was up on Tuesday, with Tesla one of the automotive and tech stocks leading the charge.