New Tesla shares rose almost $2,000 on Wednesday as the company’s stock surged above $50 billion for the second year in a row.
Tesla’s market cap reached $1.6 trillion and it had $30 billion in cash on hand.
Its stock is currently trading at $41.94.
Tesla is also up more than 30% in 2017.
The stock had already surpassed its 2017 closing price of $40.60 on Wednesday.
Its market cap is up about 60% from the year before.
Tesla’s stock had a net loss of $1,567 million for the year ending June 30, according to its SEC filings.
However, the company saw a $5.3 billion profit in the first quarter, thanks to its $1 billion capital raise and a $1bn dividend.
As the company ramped up production, it reported $1 trillion in sales.
The automaker also said it was investing $4.7 billion into its factory in Fremont, California.