Screenshot via Yahoo Finance
The stock jumped above $260 at one point, after opening at $252, an increase of over 2.5%.
Tesla has been moving steadily higher since March, after slipping in late 2014 and early 2015. Shares now have the September 2014 trading peak of $291 in their sights.
Investor sentiment looks to be driving the surge. Early investor $4 on Wednesday and expressed optimism that Tesla could be worth $120 billion in four to five years; it currently has a market cap of $33 billion.
"I think we're going to make between 10 and 20 times our money on Tesla," he said, confessing a true love for the company and its cars.
Morgan Stanley lead auto analyst Adam Jonas also affirmed his Tesla price target of $280 this week. Jonas is among the Tesla bulls on Wall Street, but his target is lower than Stifel Nicholas' James Albertine, who is at $400.
Tesla is predicting that its will deliver 55,000 vehicles in 2015. It will also start delivering its much-anticipated Model X SUV in the third-quarter.
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