Tesla (NASDAQ:TSLA) stock has been one of the hottest stocks since Donald Trump won the presidential election earlier this month. Now up nearly 38% since election day, TSLA shares are starting to get closer to the heights not seen since the start of 2022.

Tesla is on a 37% tear since Donald Trump's election win, as investors speculate that self-driving is coming soon, with the Trump administration easing the regulatory path for autonomous vehicles. Stifel on Monday hiked its Tesla stock price target to 411,

The SPDR S&P 500 Semiconductor ETF was up 0.9% as tech-related shares led equities higher on Monday. The S&P 500 was up 0.2%, building on Friday's record close, while the Nasdaq Composite jumped 0.9%, on track for its first record close since Nov. 11.

The S&P 500 and Nasdaq Composite were both headed for record closing highs on Monday, but things may get bumpier in the days ahead. The S&P 500 was up 0.3%, even though only 190 stocks in the index were on track to close higher.