Tesla (TSLA) shares surged Monday, pushing the company’s market capitalization back above $1 trillion, amid a broad market rally after the U.S. and China agreed to temporarily lower tariffs.
Shares of Tesla rose nearly 7% to close at $318.38 Monday, bringing the company’s market cap to $1.02 trillion. That makes the Elon Musk-led automaker one of just nine American companies worth $1 trillion or more, along with Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Amazon (AMZN), Alphabet (GOOGL), Meta (META) Berkshire Hathaway (BRK.A, BRK.B), and Broadcom (AVGO).
Tesla’s stock has climbed for three consecutive weeks, but the shares are still down more than 20% for 2025. The EV maker has faced a political backlash over CEO Elon Musk’s involvement in the Trump administration’s cost-cutting efforts, with shares erasing much of their gains in the wake of President Donald Trump’s election win. Last month, Musk said he would step back from Trump’s Department of Government Efficiency to spend more time with Tesla.
Sales have lagged, including in China, where the company shipped fewer vehicles in April than it did a year earlier. Last month marked Tesla’s seventh straight month of year-over-year declines in shipments from China, according to preliminary data from the China Passenger Car Association.
:max_bytes(150000):strip_icc()/GettyImages-21696399301-a140f7670e4340bbba00bbb5ea666fed.jpg?w=1200&resize=1200,0&ssl=1&description=Tesla+Rides+Market+Rally+Back+Into+%241+Trillion+Club){kind=link}