Why Tesla Shares Took Off Today

It's not often that a company with a $1 trillion market cap sees a daily stock move of more than 10%. But that's what's happening with Tesla (NASDAQ: TSLA) today. Shares of the EV trailblazer popped 11.8% just after the opening bell today. As of 10:11 a.m. ET, shares remain 8.9% above Wednesday's closing price.

Today's move was strictly related to the performance of the business. Yesterday afternoon, Tesla reported blowout first-quarter results, and CEO Elon Musk even suggested that the company may grow even more than he anticipated earlier this year. Tesla reported a record quarter with total revenue of $18.8 billion and $3.3 billion in net income. 

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Source Fool.com