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Trump on the Verge of Election Victory: Tesla Stock, Backed by Supporter Elon Musk, Shows Strong Gains

(dpa) Musk friend Trump on the verge of US election victory: The main shareholder of Tesla, Elon Musk, has strongly supported Trump during the US election campaign. The expected election result is now also reflected in Tesla's stock price on the stock market.

Duo infernale: Although Donald Trump rejects e-mobility and wants to expand fossil fuels again, e-mobility pioneer Elon Musk stands by him - and now benefits from a possible election victory. | Photo: dpa/Matt Rourkejos/Luis Villegas AP
Duo infernale: Although Donald Trump rejects e-mobility and wants to expand fossil fuels again, e-mobility pioneer Elon Musk stands by him - and now benefits from a possible election victory. | Photo: dpa/Matt Rourkejos/Luis Villegas AP
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The emerging victory of Donald Trump in the US presidential election is providing strong tailwind for the shares of the electric car manufacturer Tesla. They rose by more than 12 percent in pre-market US trading to just under 283 US dollars. In the main business, this would be the highest price since mid-2023. And: Tesla would thus be getting closer to a market capitalization of one trillion dollars again.

Tech billionaire and Tesla CEO Elon Musk stood closely alongside Republican Trump during the election campaign. Trump wants to entrust Musk with the task of reducing government spending.

Translated automatically from German.
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