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00:02Tesla shares extended their rally on Monday, rising as much as 4.9%, according to Bloomberg.
00:08The stock moved toward a record close for the first time since December 2024,
00:13even as analysts warned its valuation has surged faster than its fundamentals.
00:18Tesla shares have more than doubled since hitting an early April low
00:21during a broader market sell-off tied to President Donald Trump's tariff offensive.
00:25The stock reached an intraday high of $481.37 on Monday
00:30and is on track to close at a new all-time high,
00:33surpassing the prior record of $479.86 set on December 17.
00:39Analysts said sentiment around Tesla's artificial intelligence and automation ambitions is driving the stock.
00:45While sales growth has slowed, profit estimates have fallen and regulatory scrutiny has increased.
00:50WebBush raised its price target to $600, citing Tesla's AI potential,
00:55while other strategists warn the stock is trading in bubble territory.
00:59For all things money, visit Benzinga.com.
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