As Tesla Rejoins $1T Club, Elon Musk Praises Team For 'Working Hard During Holidays' And Help Meet Year-End Deliveries Target

Tesla Inc TSLA CEO Elon Musk on Wednesday praised the team behind the electric vehicle maker for working hard during the holidays to meet the year-end delivery target, on a day the electric vehicle maker company’s stock rejoined the $1 trillion market cap club.

What Happened: Musk said on microblogging site Twitter that Tesla is speeding to meet the year-end delivery targets and appreciated customers’ support for taking the deliveries, while also thanking colleagues for working during the holidays to ensure deliveries.

The billionaire entrepreneur did not share further details.

Tesla buyers are given an option to take delivery of vehicles within 30 days of it being available. 

Historically, December has been a busy month for automakers as they rush to close the calendar year-end targets. This year, automakers around the world have been battling chip shortages to ensure a steady and timely supply to dealerships and customers.

A $1 trillion company again: Tesla slipped below the $1 trillion valuation mark earlier this month for the first time since October and regained that spot on Wednesday.

Tesla shares rose on Wednesday after Musk said he has sold enough stock to satisfy his goal of selling 10% of his Tesla stake. He later clarified a few trances are yet to be sold.

Tesla shares have fallen nearly 25% since Musk announced plans to sell about 10% of his shares on Nov. 6.

See Also: Elon Musk Says Twitter Poll Had No Impact On Tesla Stock Sale

Musk has made about $14 billion as a result of the stock sales. The Tesla CEO has revealed that he would pay more than $11 billion in taxes this year.

Price Action: Tesla shares closed 7.49% higher at $1,008.87 a share on Wednesday.