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Tesla Rally Tops 100% From Low, Supercharged by New Optimism

  • Electric-vehicle maker’s shares close up 3% Thursday
  • Fed pivot hope, rising EV demand, retail buying drive stock
Tesla Showroom in Shanghai Ahead of Earnings Results
Photographer: Qilai Shen/Bloomberg
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Tesla Inc. shares extended their breakneck rally on Thursday to double from the lows touched in early January, helped by a rising appetite for growth and technology stocks, and signs that demand for its electric vehicles is rebounding.

The shares closed up 3% at $207.32 in New York, capping a 104% gain from their Jan. 6 intraday trough. The shares are bouncing off a 65% plunge in 2022.