Tesla's stock closes at an all-time high.

Shares of leading American electric car manufacturer Tesla saw their profits expand during trading on Wednesday, jumping to record highs at market close, with market bulls continuing to push Tesla's stock to even higher levels during pre-market trading on Thursday.

This came after a rise of more than 70% in Tesla's shares since the election victory of U.S. President Donald Trump, which boosted investor optimism about Tesla's performance, given the political influence that CEO Elon Musk will gain by being part of the new U.S. administration.

In terms of trading, Tesla's stock (NASDAQ: TSLA) closed the Wednesday session at $424.80, up 6%, surpassing its previous record peak of $409.97 reached in November 2021 by about $15.

During pre-market trading on Wall Street today, Tesla's stock continued to expand its profits, recording a rise of 0.86%, reaching $427.42 per share, and representing a 38% increase in Tesla’s stock in November, the best monthly performance since January 2023, and the tenth best performance of all time.

Tesla's record performance marks a significant turnaround from its performance at the beginning of the year, where the company's shares fell by 29% during the first quarter, the worst quarter for Tesla’s stock since the end of 2022, and the third worst quarter since Tesla went public in 2010.

The record profits in November were also supported by the company's good financial results, as in the third-quarter earnings report released in October, Tesla announced an 8% year-on-year increase in revenue, and although this was below estimates, the company reported better-than-expected earnings.

Several factors contributed to Tesla's recent stock rise this month, including strong sales of Tesla vehicles in China, where 21.9 thousand electric cars were sold in early December, with 73 thousand units sold during the record November.