TSLA is trading at $401.06 (+3%) as it surges alongside a broader market rally fueled by strong earnings in the semiconductor space.
- The Nasdaq gained 1.64% as tech leads the market higher following robust AI chip results from AMD and easing Middle East tensions, which have lowered oil prices.
- Shares have breached a key resistance level between $400 and $402 after closing at $389.37 on May 5, following sector momentum rather than company-specific catalysts.