Tesla’s stock is rallying as investors cheer a return of Elon Musk as a full-time CEO, and is fast approaching a key chart level that if cleared could target a return to record levels.

Catching up to Waymo won't be easy because it has partnered with Uber Technologies, which operates the world's largest ride-hailing network with 170 million monthly users. It could take Tesla years to achieve that level of scale, especially if it builds its own mobility network from scratch.