Tesla’s stock is rallying as investors cheer a return of Elon Musk as a full-time CEO, and is fast approaching a key chart level that if cleared could target a return to record levels.

Tesla stock rose Thursday. Elon Musk and trade were driving shares higher. Shares of the electric-vehicle maker added 0.4%, closing at $358.43, while the S&P 500 and Dow Jones Industrial Average rose 0.

Elon Musk's time in Washington, D.C., was an inferno. He was appointed the head of the Department of Government Efficiency (DOGE) as a top advisor to President Donald Trump, though he is not considered an official member of his cabinet — an issue that comes into play later in this story.