Tesla stock hit a new all-time high earlier this week, topping $540 per share.
Tesla, which is now up about 20% in 2020, soared on its entrance into China and Q4 delivery figures that exceeded Wall Street’s expectations. The stock has more than doubled over the past three months, according to FactSet. On Thursday the stock slid slightly, following a downgrade from Morgan Stanley.
The recent gains bring Tesla’s market cap to about $94.6 billion, which is more than that of General Motors and Ford combined.
Tesla stock has been on a tear this quarter after announcing a surprise profit in its third-quarter earnings report in October of last year. Back then, the stock was just over $250 per share.
Q4 delivery numbers also impressed investors, driving the stock up. Tesla said it delivered 112,000 vehicles in the quarter to finish out the year, which brought the total vehicles delivered in 2019 to approximately 367,500 vehicles, a 50% jump from 2018.
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