Tesla shares hit all-time excessive

Tesla boss Elon Musk visiting the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, 13 August 2021.

Patrick Pleul | Reuters

Tesla stock hit an all-time high on Friday, rising to over $ 900 per share shortly after the market opened, nearly two days after the company reported record third-quarter sales and earnings.

The shares traded at approximately $ 906 after 2:30 p.m. ET.

The move marks the first time the company has set an intraday record since January.

Tesla’s strong earnings results resulted from improved gross margins of 30.5% in the automotive business and 26.6% overall. The stock fell below 2% in after-hours trading on Wednesday.

Tesla’s market cap at noon was around $ 850 billion.

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