Tesla Inc was set to breach US$500 billion in market value on Tuesday, as its shares extended a meteoric rally that has seen the stock gain more than six times this year.
Shares of the electric-car maker have risen nearly 28per cent since the S&P Dow Jones Indices confirmed they would add the company to Wall Street's benchmark index from Dec. 21.Its shares were up 3.5per cent at US$540.53 in premarket trading and will have to open above US$527.48 to hit the US$500 billion mark.