LAHORE MIRROR (Monitoring Desk)– Tesla shares hit an all-time high on Friday, surging above $900 a share shortly after market open, nearly two days after the company reported record revenue and profits in the third quarter.
Shares were trading at roughly $906 after 2:30 p.m. ET.
The move marks the first time since January the company made an intraday record.
Tesla’s strong earnings results stemmed from improved gross margins of 30.5% on its automotive business and 26.6% overall. The stock dropped under 2% in after hours trading on Wednesday.
Tesla’s market cap stood at roughly $850 billion midday.
SOURCE: CNBC
