Tesla (TSLA) shares hit all-time high

Tesla CEO Elon Musk points while visiting Tesla’s Gigafactory construction site in Gruenheide near Berlin, Germany, August 13, 2021.

Patrick Ballull | Reuters

Tesla shares closed at an all-time high of $909.68 Friday, two days after the company reported record third-quarter revenue and earnings.

The move is the first time since January that the company set an intraday record. Shares soared above $900 a share shortly after the market opened.

Tesla’s strong earnings results resulted from an improvement in gross margins of 30.5% on the auto business and 26.6% overall. The stock fell less than 2% in after-hours trading on Wednesday.

Tesla’s market capitalization was about $860 billion at market close.

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