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Tesla Motors Inc.

(TSLA)’s market value exceeded $20 billion on investor optimism that Elton Musk can keep widening the appeal of electric-powered cars as the company’s sales increase.

The stock climbed 5.7 percent to a $171.03 at 12:02 p.m. New York time after reaching an intraday record of $172.75. Shares of the Palo Alto, California-based company, which had its initial public offering just three years ago, have surged about fivefold this year.


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Tesla Market Value Exceeds $20 Million

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