Just before the markets closed on Friday, shares of automotive company Tesla (TSLA) rose 5.96% to a record high of $695. In after hours trading, the stock bumped back about 3%. Increased activity happened after hours with more than 200 million shares exchanging hands.
Based on Tesla’s Friday average price of $679.85, more than $131 billion USD worth of stock changed hands. Ahead of Friday’s session, S&P Dow Jones Indices estimated that approximately 129.9 million shares of Tesla would need to be purchased by index fund managers, worth more than $85 billion.
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