Tesla should take advantage of its stock’s post-election surge to raise capital by selling shares, a Jefferies analyst says.

Tesla ( TSLA 9.06%) stock continued putting pedal to metal as stock markets reopened for business Monday. Through 12:20 p.m. ET, the electric car leader gained 7.3%, bringing total gains since Donald Trump won reelection (with Elon Musk's support) to a staggering 37%.

Tesla shares fell as much as 7% Tuesday, retreating from their earlier gains as a face of the “Trump trade.” Tesla, recently down about 6.3% on the day, was one of the S&P 500’s biggest gaine