Tesla Stock Hits New All-Time High of $1,100

Tesla’s stock hit a new all-time high on Friday, touching $1,100 per share, before dipping down slightly, now trading at $1,091.82 as of writing. Tesla’s market cap stands at $1.08 trillion.

Over the past month, shares of Tesla have surged 39.74%, breaking the $1,000 per share barrier. The optimistic outlook on Tesla recently was due to its impressive third quarter, at a time when other automakers are struggling with semiconductor shortages, along with parts shortages as well.

Hertz also announced this week an order for 100,000 Tesla vehicles to add to its rental fleet, expected to be delivered by the end of 2022. The rental car company also announced a deal to rent out 50,000 of its Tesla fleet to Uber drivers, a move seen to further interest for electric vehicles and the automaker’s cars.

The positive outlook on Tesla has resulted in numerous analysts upping their price targets for the company, with the highest on Wall Street so far set at $1,300 by Piper Sandler.