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