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Already plumped up by big rallies in 2020, stocks for Apple and Tesla popped again Aug. 31, surpassing record highs after the companies' stock splits took effect.

Wall Street’s optimistic view on Tesla Inc. further solidified Aug. 26 after a Jefferies analyst more than doubled his price target on the stock, saying the company will continue to broaden its competitive edge in multiple dimensions, including battery capacity and industrial efficiency.

The relentless rally in Tesla Inc. shares has driven its valuation close to the consumer product behemoth Procter & Gamble Co. as investors bet on the electric vehicle maker’s ability to dominate the automotive market of the future.

Tesla Inc.’s soaring valuation led to a downgrade by Sanford C. Bernstein analyst Toni Sacconaghi on July 28, who said it is difficult to justify the market capitalization even using best-case scenarios.

Nikola Corp. shares nosedived on July 20 as some investors will now be able to buy the company’s stock at a fraction of recent prices.

After a torrid rally that saw shares more than double since early May, Tesla Inc. is taking a pause on July 15, even as the broader market rises on the hopes for a coronavirus vaccine.

Tesla Inc.’s relentless surge continued July 13 amid several upcoming events that include the possible unveiling of new battery technology from the electric vehicle maker, entry into a lucrative new market and the potential inclusion of the stock into the prestigious S&P 500 Index.

The significant pullback in U.S. auto stocks creates an opportunity for investors to own long-term growth names including Tesla Inc. and other companies exposed to electric vehicles, Goldman Sachs said.

Tesla Inc. is headed for its seventh straight session of gains after Credit Suisse upgraded the electric-car company whose stock has been on a tear since its first-quarter delivery report.

Back in early 2017, investing in companies involved in infrastructure projects seemed like a smart idea, given newly elected President Donald Trump’s enthusiasm for building roads, bridges and walls. That it was also a spot of rare bipartisan agreement only bolstered the argument.