Tesla's stock surpasses $100 mark for first time

News of Tesla's recent government loan repayment and plans to expand its rapid charging network has electrified the automaker's stock price past the $100 mark for the first time ever.

After closing at $97.08 last week, Tesla's stock opened at $101.99 on Tuesday, crossing the $100 threshold for the first time in the company's history. The stock has steadily marched upward throughout the morning and is now trading at nearly $104.

Tesla's stock began its ascent toward $100 in April and was given a major boost after the electric vehicle maker founded by Elon Musk announced in late May that it had fully paid off its government loan obligations. Tesla's most recent stock price rally is being attributed to the expansion of the company's so-called supercharger network, which can charge the automaker's battery-powered Model S sedan in as little as 30 minutes.

So far this year Tesla's stock value is up about 300 percent, compared to the Russell 1000 Index's 16 percent growth.