Tesla stock hits new ATH after Hertz places biggest EV order ever

Tesla (TSLA.US) stock jumped more than 7.5% and reached a new all-time high during today's session after Bloomberg reported that car rental firm Hertz has ordered 100,000 cars from the electric car manufacturer in order to build out an electric vehicle rental fleet by the end of 2022. The deal, which will bring in a reported $4.2 billion for Tesla, is the largest ever purchase of electric vehicles. Additionally, Morgan Stanley hiked its price target on the shares to $1,200 from $900. Also news that the company's Model 3 becoming the first electric vehicle to top monthly sales of new cars in Europe boosted market sentiment. Thanks to this positive news, the company's market capitalization neared $1 trillion.

Tesla (TSLA.US) stock launched today's session with a bullish price gap and reached a new all-time high following set of upbeat news. If current sentiment prevails, the next target for buyers is located at psychological $1000.00 level which coincides with 127.2% Fibonacci external retracement of the last downward wave. Source: xStation5