Tesla stock jumped more than 3% in early trading on Tuesday as the company reported a third straight quarterly profit.
The shares rose nearly $2 a share after the company posted a profit of $849 million.
Tesla’s stock has soared more than 25% over the past year.
Tesla has seen record growth in its stock market valuation and has seen its share price climb more than $2,000 since the beginning of 2016.
Shares of Tesla were up more than 4% at $6,071.75.
The company has seen a surge in its Model 3 sedan, its most advanced vehicle.
Tesla shares have risen more than 10% this year.