The Department of Motor Vehicles gives Elon Musk’s EV company 60 days to change how it promotes Autopilot and Full Self-Driving features or face a 30-day sales ban.

Tesla Inc. shares extended a rally climbing as much as 4.9% Monday and are on pace to close at an all-time high for the first time since December 2024, defying growing concerns about the company’s soaring valuation.

Shares saw their first record close since December 2024, helping support the continued reign of the “Magnificent Seven.”

TSLA shares dropped 73.6% from a peak of $409.97 on November 4, 2021, to $108.10 on January 3, 2023, in contrast to a peak-to-trough drop of 25.4% for the S&P 500. Sine then, the stock surged to a high of $479.86 on December 17, 2024, and is currently trading at $475.31

Shares of EV-maker Tesla rose 3.1% Tuesday to their first record since last December. The price move, which pushed the stock to $489.88, gave the company run by Elon Musk a market cap of $1.629 trillion,

Tesla's stock reached its all-time closing high today, marking the first time it's achieved this level in a year.

Robotaxis and humanoid robots may grab the spotlight, but Tesla's EV business is still holding up the entire production.