Tesla Inc. stock rises Monday, outperforms market

Tesla Inc. stock rises Monday, outperforms market

Shares of Tesla Inc. TSLA, +3.42% rallied 3.42% to $729.77 Monday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index COMP, -1.47% falling 1.47% to 12,698.45 and Dow Jones Industrial Average DJIA, -1.25% falling 1.25% to 30,223.89. This was the stock’s seventh consecutive day of gains. Tesla Inc. hit a new 52-week high, surpassing its previous peak of $718.72, which the company achieved on December 31st.

The stock outperformed some of its competitors Monday, as Toyota Motor Corp. ADR TM, -0.83% fell 0.83% to $153.29, General Motors Co. GM, -2.71% fell 2.71% to $40.51, and Honda Motor Co. Ltd. ADR HMC, -1.73% fell 1.73% to $27.76. Trading volume (48.4 M) eclipsed its 50-day average volume of 43.9 M.

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