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: Tesla stock heads to another record on the heels of Uber-Hertz deal

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Shares of Tesla Inc. looked set to end at a fresh record on Wednesday as Hertz Global Holdings Inc. and Uber Technologies Inc. said the rental car company would offer Tesla vehicles for ride-hailing.

Tesla
TSLA,
+2.63%

stock traded as high as $1,070.88 in midday trading Wednesday. The stock closed at a record $1,024.86 on Monday after Hertz
HTZ,

announced plans to order 100,000 Teslas for its rental-car fleet. Monday’s 12% rally and record close pushed Tesla’s market valuation past $1 trillion.

Earlier Wednesday, Uber
UBER,
-2.01%

and Hertz
HTZ,

said the car-rental company would supply up to 50,000 Tesla cars to Uber drivers. The rented Teslas would be in service as soon as next week in few U.S. cities, with a nationwide rollout planned for later.

Tesla shares are up 16% this week. So far this year, the stock has gained 50%, compared with gains of around 22% for the S&P 500 index.
SPX,
+0.14%

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