Tesla's Market Cap Reaches $1 Trillion Following Trump’s Election Victory
Business
Tesla's market value surged to $1 trillion as Republican candidate Donald Trump's victory in the U.S. presidential election sparked a significant rise in the company's shares.
Tesla CEO Elon Musk’s close ties with Trump could potentially provide the electric vehicle maker with a considerable advantage under the new administration. Following this, Tesla shares rose over 6%, trading at around $313 per share on Friday. This marks the first time Tesla’s share price has surpassed $300 since September 2022, making it the world’s ninth-largest company by market capitalization.
Gene Munster, managing partner of Deepwater Asset Management, highlighted that Tesla shares have climbed 44% over the past 12 trading days, far outpacing the 4% growth of the Nasdaq in the same period.
For context, Republican candidate Donald Trump won the U.S. presidential election held on November 6.
Gene Munster, managing partner of Deepwater Asset Management, highlighted that Tesla shares have climbed 44% over the past 12 trading days, far outpacing the 4% growth of the Nasdaq in the same period.
For context, Republican candidate Donald Trump won the U.S. presidential election held on November 6.
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