Tesla's stock market value tops Facebook's in huge trading

FILE PHOTO: Tesla Motors Inc CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014. REUTERS/Lucy Nicholson

(Reuters) - Shares of Tesla surged to a record high in heavy trading on Thursday, with the electric car maker's stock market value exceeding Facebook's for the first time.

Shares in the company led by Elon Musk jumped nearly 8% to end the session at $816, putting its market capitalization at $774 billion and making it Wall Street's fifth-most-valuable company, just behind Google-parent Alphabet and ahead of Facebook.