Tesla Inc. shares are staging a comeback as investors expect the Elon Musk-led electric carmaker to navigate the crippling semiconductor shortage better than rivals that have been severely disrupted.
The stock gained as much as 3.8% to $875.26 on Oct. 18 in New York, before closing at $870.11, up nearly 55% from a March 8 low of $563. That came after eight weeks of gains, its longest winning streak since before the COVID-19 pandemic roiled markets. The rebound makes it the sixth-biggest publicly listed company in the U.S., firmly ahead of Berkshire Hathaway Inc.
