Tesla Inc.'s stock price surged past $400 per share in overnight trading, marking the first time it has reached this level since January 2022. The stock saw a 3% increase overnight, with some traders referring to the phenomenon as 'pajama traders' driving the surge. The rise in stock value comes amid news of Elon Musk's new DOGE efficiency initiative gaining GOP support and former President Donald Trump promising business-friendly policies, which investors seem to view as positive developments for Tesla.