Tesla stock breaks the $100 barrier

Article by Christian A., on May 28, 2013

Today, Tesla stock surged past the $100-a-share level and for those who don’t know this is the first time due to the fact that the company is preparing to announce that it will expand its charger network for vehicles this week. At 9:52 a.m. eastern time Tesla stock gained 7.3 percent to $104.21, which means that its shares almost tripled this year through May 24.

On May 20, Tesla CEO Elon Musk announced that the company will expend its supercharger network, after repaying a United States loan. The American company became the first recipient of a U.S. Energy Department loan to pay its debt.

Back in 2012, Tesla Motors began installing solar-powered supercharger stations on major U.S. highways in order to allow Model S customers to charge their vehicles. The Tesla Model S has a range of 265 miles (426 kilometers) and a starting price of $69,900.

Topics: tesla, shares

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