Tesla Surges to $1 Trillion Valuation Again Following One-Week 16% Rally

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Tesla stock has surged past the $1 trillion valuation mark once again for the first time since mid-January, following a nearly 16% rally in the past five trading days.

At the time of writing March 24, Tesla shares were up over 1.3%, trading at $1,012.25 at 11:30 a.m. ET.

Tesla shares rebounded a portion of its valuation following a bearish few months. Tesla officially opened its Gigafactory Berlin facility in Germany, following a year of bureaucratic red tape, which delayed production at the factory from starting for more than eight months.

The German factory holds a crucial part in Tesla’s expanding production and manufacturing playbook as it works toward a production rate of 1 million vehicles annually. Last year, Tesla delivered more than 930,000 electric vehicles with only two operational production facilities: its Fremont Factory in Northern California and Gigafactory Shanghai in China.

The Shanghai factory was used as an export hub for all of 2021, as Model 3 and Model Y vehicles were sent to Europe over the past 15 months while Tesla waited for the regulatory approval of the Berlin factory.

“Tesla now back above $1 trillion market cap is a telling tale of the confidence the Street has in this generational growth story,” Wedbush analyst Dan Ives told Teslarati. “[CEO Elon] Musk is flexing his muscles with the Berlin and Austin build-outs, and within the EV landscape at this point it’s Tesla’s world and everyone else is paying rent.”

Additionally, rising gas prices could be helping Tesla as more consumers work to transition to electric vehicles. EVs have helped many people avoid…

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