Published April 10, 2017 10:26am EDT | Updated April 10, 2017 2:05pm EDT

Tesla's Market Cap Briefly Tops GM After Intraday Record For The Company's Shares

Tesla Inc. was briefly the No. 1 car maker in the U.S. by market capitalization earlier Monday, a milestone it hit around the open after the shares hit a fresh record intraday high for the stock and an upgrade from analysts at Piper Jaffray. Tesla's market value shot up to close to $51.2 billion to General Motors Co. $51.10 billion. As Tesla gains moderated, however, GM's market capitalization was recently at $51.3 billion to Tesla's $50.8 billion. Tesla shares traded as high as $313.73 early Monday.