Tesla’s stock price rose for the fourth consecutive day Monday, putting the electric vehicle maker’s market capitalization above $1 trillion for the first time.

The stock ended the day at $1,024.86 per share, up 12%. Tesla’s stock has gained nearly 45.2% year to date, outperforming the S&P 500’s 21.6% gain.

Tesla has joined an elite club of mega-cap technology businesses with a market value of at least $1 trillion. Amazon, Apple, Microsoft, and Google’s parent firm Alphabet were the only U.S.-based corporations with a market valuation of at least $1 trillion before Monday. In late September, Facebook became the latest member of the $1 trillion club.

A deluge of encouraging news aided the stock’s ascent to a new all-time high, including an announcement from American car rental company, Hertz, of a massive order of Tesla vehicles. Hertz said Monday that it had placed an order for 100,000 Tesla Model 3 sedans, which will be delivered by the end of 2022.

Hertz said its goal is to have the largest fleet of electric vehicles in North America. While China and Europe have been leading the charge for EVs, it appears that the U.S. is now quickly catching up. With Tesla leading the charge, many companies are looking to capitalize on the massive opportunity presented by the $5 trillion electric vehicle market over the next decade.

A lot of Wall Street analysts have grown more optimistic about the company as a result of the combination of positive news. Morgan Stanley analyst Adam Jonas boosted his Tesla stock price target to $1,200 from $900, making it one of the highest on Wall Street. He also reaffirmed the stock’s Overweight rating.

In his note announcing Tesla’s third-quarter results, Jonas noted that the company’s robust top-line growth and profitability were significant factors.

Tesla’s adjusted EBITDA margin is at the top of high volume OEM margins, according to Jonas. “In a challenging supply chain environment, Tesla is making $10K of EBITDA per car globally,” he added.