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Tesla Shares Are Roaring Back

  • Tesla to report 3Q results on Oct. 20, analysts upbeat
  • Tesla most expensive on NYFANG+ Index on forward P/E terms
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Source: Tesla Inc.

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Tesla Inc. shares are staging a comeback as investors expect the Elon Musk-led electric carmaker to navigate the crippling semiconductor shortage better than rivals that have been severely disrupted.

The stock gained as much as 3.8% to $875.26 on Monday in New York, before closing at $870.11, up nearly 55% from a March 8 low of $563. That came after eight weeks of gains, its longest winning streak since before the Covid-19 pandemic roiled markets. The rebound makes it the sixth-biggest publicly listed company in the U.S., firmly ahead of Berkshire Hathaway Inc.