Tesla shares close nearly 11 percent above $1,500 market value of nearly $290 billion

Tesla shares closed 10.78 percent higher on Friday, surpassing $1,500 to $1,544.65, a record high with a market capitalisation of nearly $290 billion. Tesla’s global charging pile network recently reached another milestone, with 2,000 fast charging stations and 18,000 charging gear, according to Tesla.

In addition, traders are betting that Tesla may be included in the S.P. 500, which has also contributed to its recent rally.

Tesla shares close nearly 11 percent above $1,500 market value of nearly $290 billion

At the same time, Tesla’s short position is continuing to grow, reaching $19.95 billion recently, according to financial analytics firm S3 Partners, making the stock on track to become the first stock in history to break through $20 billion. All along, the sound of empty Teslas has been heard. Mark Hulbert, a market analyst, said Tesla’s stock was essentially a bubble that was blowing.

Tesla shares are up 27.9 percent this week. Its share price has risen about 190 per cent in the past six months.

Tesla shares close nearly 11 percent above $1,500 market value of nearly $290 billion