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's Market Cap Reaches $1 Trillion Following Trump’s Election Victory
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.

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