Shares in the electric car maker led by CEO Elon Musk rose almost 3per cent on Wednesday and have now surged 40per cent since Nov. 16, when it was announced Tesla would join the S&P 500 in December. Investors rushed to buy shares ahead of index funds that will be forced to acquire over US$50 billion of its shares.One of Wall Street's most loved - and hated - stocks, Tesla was already the U.S.
Retail investors using apps like Robinhood are also responsible for much of the recent volume spike, Manuelian added. At about halfway through Wednesday's session, traders had exchanged US$20 billion worth of Tesla shares, according to Refinitiv.
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