Tesla stock sky rocketed. The company is now the seventh largest U.S. company by market cap

Shares of Tesla Inc. TSLA, +12.56% rocketed 12.6% in Monday buying and selling (08/31/2020).

Considering the market capitalization the company is now the 7th largest U.S. company. Tesla finished Monday’s session with a valuation of $464.three billion because it beat out Visa Inc. V, -1.72% for the first time to take over the No. 7 slot, in accordance with Dow Jones Market Data.

Visa ended the day with a valuation of $451.1 billion. Monday’s rally continues a sharp ascent for Tesla’s stock and marks the first day of trading for the shares on a split-adjusted foundation.

Tesla introduced earlier in August that it could be conducting a five-for-one split of its shares, and the split formally occurred after the shut of trading Friday.

Tesla shares have rallied practically 200% over the previous three months they usually’re up about 500% on the 12 months. The S&P 500 has risen 15% in a three-month span and 8% so far in 2020.