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Tesla Shares Surge 12% to $284 Following Trump's Election Victory

Nov 6, 2024, 09:45 AM

Shares of Tesla surged in early trading following Donald Trump's victory in the presidential election. Investors are optimistic that the carmaker, led by Elon Musk, will benefit significantly from Trump's administration. Tesla's stock soared 12% after Trump called Musk a 'genius' during his election night speech. Analysts believe that while a Trump presidency might negatively impact the electric vehicle industry by potentially removing EV rebates and tax incentives, it could be highly favorable for Tesla. The stock jumped 13.25% to $284 in pre-market trading, and some predict Tesla could reach a $1 trillion market cap under Trump's leadership. Markets are repricing key 'Trump Trade' bets.