Tesla shares have more than doubled in the last three months

Shares in US electric car maker Tesla have hit a record high this week, surging 9 per cent to pass the $US500 ($A724) mark on Monday. This means Tesla stock has more than doubled since mid-October 2019, putting it at a current market value of $US94.6 billion. This latest surge has Tesla on track to become the biggest automotive company in the world by market capitalisation.