The Ratings Game: Tesla stock surges nearly 10% as shareholders show renewed confidence in CEO Elon Musk

Tesla Inc. stock rose nearly 10% Wednesday, a day after shareholders bestowed their latest vote of confidence on the Silicon Valley car maker and its Chief Executive Elon Musk.

Tesla TSLA, +9.74% shares advanced 9.7%, their biggest percentage gain since Nov. 4, 2015, to end at $319.50, their best close since March 16. The shares were the best performer on the Nasdaq 100 on Wednesday.

Related: Opinion: Tesla investors missed opportunity to hold Elon Musk & Co. accountable

Shareholders late Tuesday approved all the company proposals at Tesla’s annual meeting, eschewing calls to reject the reelection of three members of the board of directors with close ties to Musk and to strip Musk of his chairman role.

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