Tesla stock gains 20 percent for second day in a row

Enlarge (credit: Aurich Lawson / Duncan Hull / Getty)

The price of Tesla stock soared by 21 percent on Tuesday, rising above $940 for the first time.

Tesla’s value has more than doubled since the start of the year—and quadrupled since last September.

What’s driving the dramatic rise in Tesla’s share price is not clear. Last week, Tesla reported solid but unspectacular profits of $105 million for the fourth quarter of 2019. A number of Wall Street analysts have upgraded their share price targets for Tesla in recent weeks, but Tesla’s value is now far above most analysts’ estimates.