Tesla stock soars as investors anticipate benefits from Elon Musk's support of Donald Trump

From Investing.com: 2024-11-06 04:29:50

Tesla shares surged 13% in premarket trading as investors reacted to a likely victory for Donald Trump in the US presidential election. CEO Elon Musk, a major backer of Trump, contributed close to $75 million to America PAC. Trump has pledged to appoint Musk to lead a new government efficiency commission, potentially benefiting Tesla. Analysts believe a Trump presidency would be negative for the EV industry but positive for Tesla, potentially adding $40-$50 per share.



Read more at Investing.com: Tesla soars as Musk’s Trump bet seen reaping rewards By Investing.com