Tesla's market valuation tops $400 billion after another record close for stock

Tesla Inc. soared more than 6% on Wednesday to close at a record $2,153.17 and hitting an intraday high of $2,166. That pushed the Silicon Valley car maker's market valuation to $401.2 billion. The latest string of records for Tesla comes ahead of the stock's 5-to-1 split next week, and as the company has set a "battery day" on Sept. 22 to showcase its battery technology, which many on Wall Street view as a potential catalyst for the stock.

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