Elon Musk’s Tesla Stock Soars As Model 3 Anticipation Grows


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.

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