Tesla Jumps 12% After Trump Election Win As Investors Bet on Musk in Trump-Era Tesla Surge

Benzinga

Tesla shares soared 12% in premarket trading following NBC News' projection of Donald Trump’s election victory, sparking investor bets on benefits for CEO Elon Musk. Musk recently donated nearly $75 million to America PAC, a super PAC supporting the Republican nominee. Tesla has underperformed on the S&P 500 this year with only a 1.2% gain. The stock rebounded 3.5% in Tuesday’s trading, ending a six-day losing streak. Wedbush’s Dan Ives highlighted potential advantages for Tesla under Trump, including fewer EV subsidies that could limit Chinese competition in the U.S. market.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Tesla shares soared 12% in pre-market trading following NBC News' projection of Donald Trump's

00:08election victory, sparking investor bets on benefits for CEO Elon Musk. Musk recently

00:14donated nearly $75 million to AmericaPAC, a super PAC supporting the Republican nominee.

00:21Tesla's underperformed on the S&P 500 this year with only a 1.2% gain. The stock rebounded by 3.5%

00:28in Tuesday's trading, ending a six-day losing streak. Wedbush's Dan Ives highlighted potential

00:34advantages for Tesla under Trump, including fewer EV subsidies that could limit Chinese

00:40competition in the U.S. market. For all things money, visit Benzinga.com slash GSTV.

Category

Transcript

Comments

Recommended