Shares of Tesla Inc. TSLA, +1.75% charged 4.3% higher in premarket trading Monday toward another record, after Bloomberg reported that Hertz Global Holdings Inc. HTZZ, -3.37% is looking to buy 100,000 Tesla electric vehicles as part of its plan to electrify its fleet of rental cars. Hertz’s stock was still inactive ahead of the open. Citing people with knowledge of the matter, the Bloomberg report said the order placed by the rental car company, which just came out of bankruptcy four months ago, would represent about $4.2 billion in revenue for Tesla. The EV market leader’s stock has rallied 5.1% the past two days to close at back-to-back records. It rose 7.9% last week to mark a ninth-straight weekly gain, the longest such streak since the 12-week winning streak that ended in February 2020. The stock has soared 41.4% over the past three months while Hertz shares have shot up 47.2% and the S&P 500 SPX, -0.11% has tacked on 3.0%.
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