Tesla stock kept up its recent momentum and rose nearly 20% to a new record high on Monday—gaining over $100 and finishing the day at $780 per share. Tesla’s shares have steadily risen and moved ever-higher in recent months, as the company works to transform itself from a niche manufacturer into a mass-market electric-vehicle producer. Big numbers: Investors who bet against Tesla’s stock have been losing droves of money since the beginning of the year—including $2.5 billion on Monday alone. But with Tesla, the stock price has steadily trended higher in 2020, forcing short sellers to take losses when buying back shares at a higher price. Tangent: CEO Elon Musk is the company’s biggest shareholder and Monday’s share price gain pushed his net worth to $39.3 billion, Forbes estimates.

Source: Forbes February 03, 2020 22:30 UTC