Tesla Hits Another Record as EV Mania Unleashes Sector Rally
- Tesla leads gains in EV stocks, touches fresh high at $508.61
- Rally puts a tough squeeze on short investors in the stock
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Tesla Inc. led the unstoppable rally in electric vehicle stocks on Thursday as the sector got more boost from investors’ optimism that the global car market will be dominated by electric cars in decades ahead.
Tesla led gains across the sector, with a 4.5% advance that brought it to an all-time high of $508.61. Lordstown Motors Corp., Electrameccanica Vehicles Corp., Nikola Corp. and Kandi Technologies Group Inc. also rose in morning trading.