BUZZ-Tesla hits record high, notches highest weekly sales in China for Q4

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BUZZ-Tesla hits record high, notches highest weekly sales in China for Q4

Reuters12-12

** Shares of EV maker Tesla briefly touch record high of $415, last up 3% at $413.07

** Sells 21,900 electric vehicles in China in the first week of December, the highest weekly sales in the fourth quarter of 2024, according to Tesla China late Wednesday

** Tesla has rallied sharply since Donald Trump won a second U.S. presidential term in November as investors anticipate the company could benefit from owner Elon Musk's close ties to Trump

** Co set for sixth consecutive session of gains

** TSLA up nearly 65% since Nov. 5 election, and is up 66% year-to-date

** Previous TSLA high was $414.50 touched in 2021

** Other megacap stocks rally broadly after latest inflation data bolsters bets on Federal Reserve rate cut, with Nasdaq crossing 20,000 point for the first time

** 24 of 54 brokerages rate the stock "buy" or higher, 17 "hold" and 13 "sell" or lower; median PT is $270

(Reporting by Lisa Mattackal)

((Lisapauline.mattackal@thomsonreuters.com))

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