Tesla stock ends at new record, tops $1,200

Tesla Inc.’s massive stock rally continued Thursday after the Silicon Valley car maker easily topped sales expectations for the second quarter.

Tesla Inc. shares rose 8% to close at a record $1,208.66 on Thursday, on the heels of better-than-expected second-quarter sales for the electric-car maker. It was the stock’s third consecutive all-time high and fourth straight session in the black. Earlier Thursday, the company said that it delivered 90,650 vehicles in the second quarter, above the 72,000 deliveries that analysts surveyed by FactSet had been predicting.

“Tesla is winning because they have a product that is measurably better than both gas and electric competitors”

The stock has gained 189% this year, contrasting with losses of 3% and 10% for the S&P 500 index SPX, +0.45% and the Dow Jones Industrial Average DJIA, +0.35%.

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