Tesla Motors Inc. has risen as the company’s stock price climbed this week, but its performance is still lagging behind its peers.
The stock rose 5.1% in late trading, up more than 100% from a year ago and above the price of its flagship model, the Tesla Model S sedan.
The S was the most expensive car on Tesla’s market this week.
It retailed for $97,750 when it was launched last year, according to Edmunds.
It is the companys first vehicle with a fully electric drivetrain.
The rise in Tesla stock value, however, is likely due to strong demand from its loyal customer base, according a Bloomberg article that quoted a Tesla executive.
The company has seen an increase in interest from investors after the company announced last week it would be selling a significant portion of its stock to raise money.
Tesla said the move would help to pay down debt and fund capital expenditures.
The $2.5 billion purchase is part of a plan by Tesla to exit the luxury sedan business.
Tesla has been struggling with a high price of the Model S.