Tesla shares closed at a record-high $489.88 on Tuesday, days after CEO Elon Musk announced the company had been testing driverless vehicles in Texas.

Tesla CEO Elon Musk said in a social media post that his company is testing driverless cars in Austin without a safety driver in the vehicle.

Wall Street's bullishness on Tesla has returned after the stock had its worst performance since 2022 in the first quarter of the year.

Tesla shares closed at a record-high $489.88 on Tuesday, days after CEO Elon Musk announced the company had been testing driverless vehicles in Texas.