Tesla Motors (TSLA) is expected to add more than 800 new jobs to its workforce, and the company is expanding its stock options program.
Tesla’s stock rose 9% to $16.50 Wednesday on the Nasdaq.
Tesla announced plans to expand its stock option program earlier this month.
The stock’s popularity with investors has led to stock options being traded on the New York Stock Exchange and other stock exchanges in addition to its stock price.
The stock’s options are currently available to Tesla employees and employees of the company’s manufacturing facilities and will expand to Tesla’s facilities in 2018, Tesla CEO Elon Musk said during a call with investors.
Tesla’s stock has been gaining traction in recent months, as Tesla has become a hot topic among investors and media outlets due to the increasing stock price of the Model 3 sedan.
Musk’s company has been making its electric car a top topic of discussion with the public, and a recent Bloomberg article detailed the company having the second-highest sales of electric vehicles in the United States.