Tesla’s surging stock is starting to remind Wall Street of bitcoin’s parabolic rally in 2017. Here’s why

Tesla Inc. is on a tear. Not just any ordinary tear for shares of a popular company whizzing to records on Wall Street. The ascent for shares of the electric-vehicle maker are near-parabolic and the unabashed run-up in recent days has some investors comparing the jump to bitcoin’s surge back in 2017.

To put things in perspective, Tesla’s shares TSLA, +13.73% have risen 36% to a record price around $887 in just the past two sessions alone. The Silicon Valley darling run by Elon Musk has jumped 180% in the...