Why Tesla Shares Are Rising

Tesla Inc TSLA shares are trading higher on continued momentum after the company reached a $1 trillion market cap. The company on Monday announced a vehicle deal with Hertz and on Tuesday was granted multiple patents.

Tesla last week reported quarterly earnings of $1.86 per share which beat the analyst consensus estimate of $1.57 by 18% percent. This is a 145% percent increase over earnings of $0.76 per share from the same period last year.

Tesla also reported quarterly sales of $13.76 billion which beat the analyst consensus estimate of $13.62 billion by 1.01 percent. This is a 57% percent increase over sales of $8.77 billion in the same period last year.

Tesla has a 52-week high of $1,094.94 and a 52-week low of $379.11.