Shares of Tesla, which reached the 200,000-vehicle cap last July, rose as much as 2.7 percent before the start of regular trading. Shares were up 1.6 percent at 2:56 in New York trading. GM, which reached the cap late last year, were trading up 1.3 percent.
Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion.