Tesla Motors Inc (NASDAQ:TSLA)’s shares are on continuous rise

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Dallas, Texas 08/28/2013 (Financialstrend) – The popularity of the vehicles of Tesla Motors Inc (NASDAQ:TSLA) had continuously been on the rise and the recent Model S vehicle is becoming highly popular in California. Such increasing popularity of the vehicles had resulted in heavy surge in prices of this stock in the markets. A recent report released by the California New Cars Dealers Association had commented that the Model S of the company had emerged as one of the top five selling models in the state of California in the sports and luxury cars segments in the month of June 2013.

The report had mentioned that this model of Tesla Motors Inc (NASDAQ:TSLA) had been ranked at third place based on the total of 4724 registered cars that were taken up for ranking during the period. The first two positions in this report were occupied by Mercedes E-Class and BME 5-Series and were found to have outperformed Lexus GS and Audi A6. It had further been reported that Model S of Tesla had proved its popularity through 1097 registrations in the month of June 2013 compared to just eight registrations that were reported for the same month in the previous year.

Tesla Motors Inc (NASDAQ:TSLA) had surged on Tuesday to close at $167.01 per share and had thereby presented gain of 1.70% over the previous close. The intraday price movements of the stock had been in the range of $160.95 to $168.80 per share and the 52 week price levels are at low of $26.86 and high of $173.00 per share. The stock, on Tuesday, had presented trading volume of 17.57 million shares and the average level is at 11.69 million shares per day. There are 121.45 million shares of the stock being traded in the markets and the institutional ownership is at 58%.

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