Tesla stock climbs into record territory on rebound in Chinese sales
jumped, surpassing their all-time record high close, following data showing China sales snapped back in May.
Car sales in China jumped in May for the first time since June 2019, and Tesla's were the top-selling new energy vehicles with more than 11,000 units sold during the month, theShares of Tesla surged as much as 5.4% on Monday to $933.44 a share, surpassing the company's February all-time high close of $917.42.
Solid Tesla sales in China"is a linchpin to the bull thesis moving forward," Daniel Ives, an analyst at Wedbush, wrote in a Monday note.
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