Tesla Inc. shares on Tuesday rose the most in one day since February 2020, snapping a five-day losing streak on the back of upbeat car sales in China.
Tuesday’s rally added $106.1 billion to the company’s market value, its largest one-day market-cap gain on record.
That boost alone is double the size of Ford Motor Co.’s F,
Tesla’s market cap stands at $647 billion.
It was also the stock’s third-largest one-day percentage gain on record. Tesla was the best performer in the S&P 500 index SPX,
The losing run had helped wipe more than a quarter of a trillion dollars off the company’s market cap in a little more than a month.
Tesla shares have gained 454% in the past 12 months, compared with an advance of 41% for the S&P 500.