This article originally appeared on the Motley Fool.
Shares of electric-car company Tesla (NASDAQ:TSLA) hit a new high on Tuesday, closing the trading day at $335.10. During intraday trading, shares climbed as high as $336.28. The gain tops off an extraordinary rise for the stock since late last year. Shares are up about 69% since Dec. 15.
The stock’s rise comes ahead of the company’s planned start for Model 3 production. The $35,000 electric vehicle, which will be Tesla’s lowest-cost car yet, is slated to begin deliveries to customers in July.
Model 3 is coming
Investors are right to be more optimistic about Tesla’s ability to produce and deliver the Model 3. With July only about a month away, and no word of any production delays, Tesla’s aggressive timeline for bringing its Model 3 to market appears to be on schedule.
Tesla’s most recent…