Shares of electric car maker Tesla surged on Friday, surpassing $800 for the first time this month and returning to $150 billion in market value, according tomedia reports, and are expected to rise to a new high after the assembly plant in Fremont resumes production.
At the close of trading in U.S. stocks on Friday, Tesla’s shares were trading at $819.42, up $39.38, or 5.05 percent, from $780.04 at the close of the previous session.
Tesla’s market value has also risen significantly after its share price exceeded $800, with it returning to $150 billion at $151.897 billion at Friday’s close.
Notably, Tesla’s vehicle assembly plant in Fremont, Tesla’s largest electric vehicle assembly plant, has been shut down since march 23 and has yet to resume production of electric vehicles.
Tesla Fremont Plant
Tesla’s share price is expected to rise, with its share price and market value expected to rise, as the fremont assembly plant shuts down.
Tesla’s share price was trading above $900 at the end of February, when it was worth more than $160 billion, and after the Fremont plant’s production capacity continues to rise, Tesla’s share price is expected to exceed $900 or more again, and Tesla’s market value is expected to hit a new high.