Tesla (TSLA) Closes at Record High of $1,208, Market Cap Reaches $1.2 Trillion

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Tesla shares continued their impressive rally on Monday, as shares hit an all-time high of $1,209.75, before closing at $1,208.59. The company’s market cap now sits at $1.2 trillion after today’s 8.49% gain.

Elon Musk’s electric vehicle maker reported impressive third quarter earnings, at a time when the global auto industry saw a decline in sales due to a chip shortage.

Tesla also saw positive news when Hertz announced it ordered 100,000 Tesla vehicles, expected to deliver by the end of 2022. Hertz also announced a deal with Uber to rent out half its Tesla fleet to gig economy drivers.