Credit Suisse says four major factors were driving Tesla shares higher

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Tesla's meteoric rise in 2020 has stunned many on Wall Street, and Credit Suisse summed up four major factors driving the electric car-maker's head-turning rally.

Shares of the Elon Musk-led company have soared an incredible 460% in 2020, though they were lower on Wednesday. Its rally only gained steam after the company announced its 5-for-1 stock split, which doesn't have any impact on the fundamentals. Amid the record run, Tesla said Tuesday it will sell up to $5 billion in new shares.