Tesla Hits All-Time High, Market Cap Surpasses $900 Billion

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Tesla’s stock price touched a new all-time high on Friday morning, reaching $910 per share, while the company’s market cap also surpassed $900 billion at one point.

The new high for the electric vehicle maker came down slightly, but as of writing, shares are trading at $906, up 1.4% for the day.

The stock price increase comes after Tesla’s record Q3, which set highs for net income and revenue, an impressive feat during the global semiconductor shortage.

Zach Kirkhorn, Tesla’s Chief Financial Officer, told investors during its earnings call “the great thing that we’re seeing in the space right now is there appears to just be quite a profound awakening of desirability for electric vehicles.”

Tesla has new factories set to come online by the end of the year in Texas and Germany, expected to help ramp up production of the company’s popular Model 3 and Model Y.

“Folks want to buy an electric car and folks want to buy a Tesla right now,” added Kirkhorn.

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