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Tesla Shares Soar 15% to $284 as Trump Calls Musk a 'Genius' in Victory Speech

Nov 6, 2024, 03:03 PM

Shares of Tesla surged in early trading, rising up to 15% and adding over $120 billion in market value, following Donald Trump's victory in the U.S. presidential election. The stock reached as high as $284, pushing Tesla's valuation above $900 billion. Investors are betting that Elon Musk's Tesla will be a major beneficiary of Trump's return to the White House, with expectations of favorable policies and greater influence for Musk's ventures. During his election night speech, Trump praised Musk as a 'genius' and a 'super genius,' further boosting investor confidence. Musk's net worth increased by over $20 billion, bringing it to approximately $286 billion.