Why Tesla Stock Hit an All-Time High Today

Core Insights - Tesla's stock reached an all-time closing high, marking a significant milestone as it is the first time in a year that the stock has achieved this level [1] - Despite a 23% decline in U.S. sales in November, Tesla shares have increased by 18% over the last month, indicating strong investor confidence [3][4] - The focus for investors is shifting from EV sales to the potential of Tesla's autonomous driving technology, which is seen as a key driver for future growth [4] Sales Performance - Tesla's domestic sales fell to 39,800 vehicles in November, the lowest since January 2022, reflecting a broader trend in the U.S. electric vehicle market where overall sales dropped by 41% [3] - The decline in sales is attributed to the cessation of $7,500 federal tax credits at the end of September, impacting the entire EV sector [3] Market Dynamics - Tesla's stock price increased by 4% to $477.33, with a market capitalization of $1.5 trillion [5] - The stock traded within a range of $467.74 to $481.75 during the day, with a 52-week range of $214.25 to $488.54 [6] - CEO Elon Musk's announcement regarding the testing of driverless vehicles without occupants has generated optimism among investors, contributing to the stock's rise [6]