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Tesla Stock Surges Over 9% After Hours, Up 10.5% on Day, Adding $80 Billion Market Cap Amid Election Results

Nov 6, 2024, 02:25 AM

Tesla Inc. ($TSLA) shares surged significantly during after-hours trading on election night, reflecting investor optimism amid the unfolding election results. The stock experienced a notable increase of over 9%, reaching a 52-week high, and was reported to be up approximately 10.5% for the day, which translates to an increase of around $80 billion in market capitalization. Analysts suggest that the rise in Tesla's stock price may be linked to predictions of a Donald Trump victory in the presidential election, as investors react to the election data as it becomes available. The stock's performance has prompted speculation about further gains, with some investors anticipating a price target of $300 in the near future.