Elon Musk attends the groundbreaking ceremony of the Tesla Gigafactory in Shanghai, east China, on January 7, 2019.
Ding Ting | Xinhua News Agency | Getty Images
Tesla stock reached a 52-week high Wednesday and is on pace to reach its highest closing price ever.
Soon after the market opened Wednesday, Tesla shares shot up about 2.4% to $388.15 per share, surpassing intraday highs reached when CEO Elon Musk sent his infamous “funding secured” tweet in August 2018.
The stock wavered Wednesday just below its intraday all-time high of $389.61 before dwindling slightly. Tesla stock has climbed almost 60% this quarter after the company reported a surprise third-quarter profit.
The stock is on pace for its best quarter since the third quarter of 2013.