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Tesla stock hits fresh record as Wall Street awaits Q2 sales

Claudia Assis

Tesla Inc. shares gained 5% Wednesday to end at $1,133.36, a fresh record, as investors await the company's second-quarter sales numbers. The rally boosted Tesla's market valuation to more than $207 billion and above, at least for now, Japan's Toyota Motor Corp.'s $203 billion market value. Toyota, which makes more than 8 million vehicles a year, long has been the No. 1 global car maker by market capitalization. Tesla is expected to report second-quarter sales this week, with analysts polled by FactSet expecting the sale of 72,000 vehicles in the quarter, of which 61,000 are Model 3s. Tesla shares have gained 171% this year, contrasting with losses of 4% and 9% for the S&P 500 index and the Dow Jones Industrial Average .