The stock opened for trading on Friday at $244.82, marking a noticeable gain from Thursday's closing price of $229.77. Tesla's stock hit an intraday high of $247.90 shortly after the opening bell, but gave up most of the gains.
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Shortly after noon, shares of Tesla were trading at $234.91 – up by more than 2 percent.
Elon Musk, Tesla's CEO, took to Twitter on Friday to tout the success of the Model 3 unveiling. He Tweeted that the company has received 180,000 orders for its new car in 24 hours with a selling price of around $42,000 per car.
"So ~$7.5 billion in a day," Musk added in his Tweet.
At time of writing, Tesla was up more than 2.6 percent at $235.88.
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