Tesla Inc. shares extended their breakneck rally on Thursday to double from the lows touched in early January, helped by a rising appetite for growth and technology stocks, and signs that demand for its electric vehicles is rebounding.
The shares closed up 3% at $207.32 in New York, capping a 104% gain from their Jan. 6 intraday trough.
The shares are bouncing off a 65% plunge in 2022.
The indicator is also showing signs of being overbought, which is usually seen by markets as a sign of an impending downturn.
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