Shares of Tesla (NASDAQ: TSLA) are surging on Thursday. The electric-vehicle (EV) maker's stock gained 5.2% as of 11:40 a.m. ET and was up as much as 7.3% earlier in the day. The jump comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) showed modest gains.

Shares of Tesla Inc. (NASDAQ: TSLA) have staged a remarkable rally over the past two weeks, climbing more than 30% after losing over half their value since December. At $288 as of Tuesday night, the stock has begun to claw back ground that many feared was permanently lost.

Tesla’s stock closed higher Tuesday for the fifth straight day, a remarkable and sustained rally that has recaptured a quarter of the value it lost in the last three months. It may not last.