Tesla Inc (NASDAQ:TSLA) shares are trading higher by 7.30% to $194.65 Thursday afternoon after strong fourth-quarter earnings from Meta Platforms Inc, which has driven a rotation into tech and growth stocks. Growth stocks have also gained following Wednesday's 25 bps rate hike by the Fed and hopes of easing inflation.

What Happened With This Week's FOMC Meeting?

Wednesday's 0.25% rate hike brings the target fed funds rate to a new range between 4.5% and 4.75%, the highest levels seen since before the 2008 financial crisis.

See Also: Federal Reserve Downshifts To 0.25%: Central Bank's Pace Of Interest Rate Hikes Slows With Inflation

TSLA has a 52-week high of $384.29 and a 52-week low of $101.81.