Tesla’s Record Run of Gains Drives $200 Billion Jump in Value

The clouds are finally parting for Tesla Inc. investors who stuck with the electric-vehicle maker through a rough ride. A rush of good news for the company and the return of bullish market conviction put the stock on pace to more than double this year.

The Elon Musk-led EV company has added more than $200 billion to its market valuation in an 11-day run, with the shares on pace to tie with its longest-ever winning streak. If Friday’s gains hold through the end of the session, it would be only the second time in Tesla’s history that the shares will have managed this feat.

Tesla has been a “wild stock” over the years, but it has only posted two other double-digit winning streaks in its history, according to Bespoke Investment Group. The first was 10 trading days ending in April 2020, while the second —and the longest one - was less than a year later, in January 2021.

Tesla Set to Tie With its Longest Win Streak Ever

Tesla shares jumped as much as 7.5% to $252.42 Friday, bringing this year’s surge to 103%. This week’s 17% advance so far is set to be the best since January.