Tesla Inc. shares rallied to a record high on Friday, taking the electric-vehicle maker another step closer to joining an elite group of companies with market valuations of at least $1 trillion. The stock jumped as much as 1.8% to touch a high of $910, before closing at $909.68 in New York. That drove the Elon Musk-led automaker to briefly overtake the valuation of Facebook Inc. The trailblazing electric-vehicle maker is up 29% this year, ahead of S&P 500 Index's 21% advance. Meanwhile, Facebook took a heavy hit on Friday after a cautious outlook from Snapchat parent Snap Inc. weighed on the shares of ad-dependent technology companies.
Oct-22-2021, 21:16:24 GMT